reyram

Player addresses the ball in the tee box, he then swings and misses the ball and ball falls off the tee. Player is informed that he must play the ball as it lies, hitting two. Player decides to pick up the ball and re-tee without assessing himself a penalty, then proceeds to finish the round. Q-1 What should have the player been penalized under the rules of golf for re-teeing the ball, stroke-wise? Q-2 What should be the end result for finishing the round without assessing the penalty?