Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: ASC 842 Leases | Statement: [US GAAP, includesStandard, ASC 842 Leases]

Target entity: ASC 842 Leases
Context triple: [US GAAP, includesStandard, ASC 842 Leases]

• A. LEI
  LEI is the commonly used abbreviation for Leiden University, one of the oldest and most prestigious universities in the Netherlands.
• B. Subchapter L
  Subchapter L is the portion of the U.S. Internal Revenue Code that sets forth the federal income tax rules applicable to insurance companies.
• C. AOUSC
  AOUSC is the central administrative agency that provides support, policy guidance, and management services to the federal judiciary of the United States.
• D. Annex SL high-level structure for ISO management system standards
  Annex SL high-level structure for ISO management system standards is a standardized framework that provides a common core text, terms, and definitions to harmonize the design and implementation of all ISO management system standards.
• E. ISO 2108
  ISO 2108 is the international standard that defines the structure and use of the International Standard Book Number (ISBN) system for identifying books and related publications.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: ASC 842 Leases
Triple: [US GAAP, includesStandard, ASC 842 Leases]

ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.

Target entity: ASC 842 Leases
Target entity description: ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.

• A. LEI
  LEI is the commonly used abbreviation for Leiden University, one of the oldest and most prestigious universities in the Netherlands.
• B. Subchapter L
  Subchapter L is the portion of the U.S. Internal Revenue Code that sets forth the federal income tax rules applicable to insurance companies.
• C. AOUSC
  AOUSC is the central administrative agency that provides support, policy guidance, and management services to the federal judiciary of the United States.
• D. Annex SL high-level structure for ISO management system standards
  Annex SL high-level structure for ISO management system standards is a standardized framework that provides a common core text, terms, and definitions to harmonize the design and implementation of all ISO management system standards.
• E. ISO 2108
  ISO 2108 is the international standard that defines the structure and use of the International Standard Book Number (ISBN) system for identifying books and related publications.
• F. None of above. chosen