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: Statement of Financial Accounting Concepts No. 3 | Statement: [FASB Statements of Financial Accounting Concepts, hasComponent, Statement of Financial Accounting Concepts No. 3]

Target entity: Statement of Financial Accounting Concepts No. 3
Context triple: [FASB Statements of Financial Accounting Concepts, hasComponent, Statement of Financial Accounting Concepts No. 3]

• A. FASB Statements of Financial Accounting Concepts
  FASB Statements of Financial Accounting Concepts are a series of pronouncements issued by the Financial Accounting Standards Board that establish the theoretical foundation and objectives underlying U.S. financial accounting and reporting standards.
• B. Conceptual Framework for Financial Reporting
  The Conceptual Framework for Financial Reporting is a foundational document issued by the IASB that sets out the underlying concepts and principles guiding the development, interpretation, and application of International Financial Reporting Standards.
• C. IFRS Conceptual Framework for Financial Reporting
  The IFRS Conceptual Framework for Financial Reporting is a foundational document issued by the IASB that sets out the underlying concepts and principles guiding the preparation and presentation of financial statements under International Financial Reporting Standards.
• D. IAS 39 Financial Instruments: Recognition and Measurement
  IAS 39 Financial Instruments: Recognition and Measurement was an international accounting standard that set out rules for classifying, measuring, and recognizing financial instruments before being superseded by IFRS 9.
• E. Statements of Financial Accounting Standards
  Statements of Financial Accounting Standards were authoritative pronouncements issued by the Financial Accounting Standards Board that established key accounting principles and reporting requirements under U.S. GAAP before being superseded by the FASB Accounting Standards Codification.
• 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: Statement of Financial Accounting Concepts No. 3
Triple: [FASB Statements of Financial Accounting Concepts, hasComponent, Statement of Financial Accounting Concepts No. 3]

Statement of Financial Accounting Concepts No. 3 is a conceptual framework document issued by the FASB that outlines fundamental objectives and qualitative characteristics guiding financial reporting and accounting standards in the United States.

Target entity: Statement of Financial Accounting Concepts No. 3
Target entity description: Statement of Financial Accounting Concepts No. 3 is a conceptual framework document issued by the FASB that outlines fundamental objectives and qualitative characteristics guiding financial reporting and accounting standards in the United States.

• A. FASB Statements of Financial Accounting Concepts chosen
  FASB Statements of Financial Accounting Concepts are a series of pronouncements issued by the Financial Accounting Standards Board that establish the theoretical foundation and objectives underlying U.S. financial accounting and reporting standards.
• B. Conceptual Framework for Financial Reporting
  The Conceptual Framework for Financial Reporting is a foundational document issued by the IASB that sets out the underlying concepts and principles guiding the development, interpretation, and application of International Financial Reporting Standards.
• C. IFRS Conceptual Framework for Financial Reporting
  The IFRS Conceptual Framework for Financial Reporting is a foundational document issued by the IASB that sets out the underlying concepts and principles guiding the preparation and presentation of financial statements under International Financial Reporting Standards.
• D. IAS 39 Financial Instruments: Recognition and Measurement
  IAS 39 Financial Instruments: Recognition and Measurement was an international accounting standard that set out rules for classifying, measuring, and recognizing financial instruments before being superseded by IFRS 9.
• E. Statements of Financial Accounting Standards
  Statements of Financial Accounting Standards were authoritative pronouncements issued by the Financial Accounting Standards Board that established key accounting principles and reporting requirements under U.S. GAAP before being superseded by the FASB Accounting Standards Codification.
• F. None of above.