What Does the Term "Float" in Banking Reference

Multiple Choice

What does the term "float" in banking reference?

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