Question: I have question As per ASC 8 4 2 , lessee must evaluate the contract to determine whether the lease should be classified as either

I have question
As per ASC 842, lessee must evaluate the contract to determine whether the lease should be classified as either a finance lease or an operating lease,
under ind as 116, there is no difference.
i feel ASC 842 better, but i dnt know why it is better. can you tell why it is better? and illustration examples

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