"…The Most Important Effect of the Frontier Has Been in the Promotion

question 13

Essay

"…The most important effect of the frontier has been in the promotion of democracy here and in Europe…the frontier is a product of individualism.Complex society is precipitated by the wilderness into a kind of primitive organization based on family…The frontier individualism has from the beginning promoted democracy…The democracy born of free land,strong in selfishness and individualism,intolerant of administrative experience and education,and pressing individual liberty beyond its proper bounds,has its dangers as well as its benefits…from the conditions of frontier life came intellectual traits of profound importance…"
Frederick Jackson Turner,"The Significance of the Frontier in American History," 1893
Using the excerpt above,answer parts a,b,and c.
a)Briefly explain ONE American identity resulting from the frontier experience.
b)Briefly explain ONE additional American identity resulting from the frontier experience.
c)Briefly explain how the frontier affected American democracy.

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Definitions:

Interest Expense

Interest expense is a cost incurred by an entity for borrowed funds, reflected on the income statement.

Effective-Interest Method

A method of calculating the interest expense on a bond that factors in the bond's book value and yield to maturity.

Discounted Bond Issue

The sale of bonds for less than their face value, typically to compensate investors for taking on additional risk or for interest rates being higher than the bond's coupon rate.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the compilation of financial statements in the U.S.