What Does the Banking Term "Float" Reference

Multiple Choice

What does the banking term "float" reference?

A) The time it takes to convert a time instrument to a demand instrument.
B) The time it takes a check to go through the traditional check-clearing process and be paid.
C) The time it takes a bank authority to report a bad check to the issuing bank.
D) The time it takes to convert a nonnegotiable instrument to a negotiable instrument.
E) The time it takes to convert a demand instrument to a time instrument.