Rafe signs a one-year lease for an apartment owned by Suki. Rafe is a student and needs the apartment only for two semesters, at the end of which he plans to sublet it for the rest of the term. Rafe's tenancy is

A) a periodic tenancy.
B) a tenancy at will.
C) a tenancy at sufferance.
D) a fixed-term tenancy.

The depositary bank is sometimes the same as the collecting bank.

Ginnie, Inc.entered into a five-year capital lease on December 31, 2010.This lease requires five minimum annual lease payments due on December 31 of each year.The first minimum payment was paid on December 31, 2010.This payment included which of the following? $\begin{array}{llc}& \text{ Interest Expense}& \text{ Lease Liability}\\ \text{I.}& \text{ No }& \text{ Yes }\\ \text{II.}& \text{ Yes }& \text{ No }\\ \text{III.}& \text{ Yes }& \text{ Yes }\\ \text{IV.}& \text{ No }& \text{ No }\end{array}$

A) I
B) II
C) III
D) IV