How can I turn on/off alignment guides?

How can I turn alignment guides on or off?

Alignment guides are visible red lines that help users align objects such as text boxes or images. 

Turn on/off guides by adjusting your settings in Preferences > Editing. 

Once guides are turned on in Preferences, easily align objects by snapping them into place. Text boxes will snap to the baseline of existing text. Other objects show guides at the center or  edges. 

To turn on the snap option, choose Arrange > Snap to Guides; or, hold down the Command key (⌘) to quickly toggle snap on/off. 

For alignment help using the grid, choose Arrange > Snap to Grid. 

To toggle the grid’s visibility on/off, choose Arrange > Show Grid. Grid increments can be specified in Preferences.