Combination cart and stand device comprised of a main frame assembly, a wheel assembly operatively coupled proximate to one end of the main frame assembly, and inner and outer support members pivotally coupled to the main frame assembly at a location distal from said wheel assembly wherein the main frame assembly, the inner support member, and the outer support member nest together to form a folded cart configuration while the main frame supports a liquid dispensing container which is transported by wheels of the wheel assembly rolling along an underlying surface of the device and wherein the inner and outer support members pivot apart and the main frame assembly pivots to an inverted elevated position for forming a stand configuration for supporting the liquid dispensing container in an elevated liquid dispensing position. Other types of containers can also be employed with the combination cart and stand device.