The term that stands for the time it takes a check to go through the traditional check-clearing process and be paid is known as ________.
A) check clearing
B) bank time
C) tender time
D) demand time
E) float

Question

Quizplus · Accepted Answer

The term "float" refers to the time period between when a check is written and when it is actually cleared and the funds are deducted from the payer's account. This process involves the check's journey through the banking system until it is paid by the payer's bank.

The Term That Stands for the Time It Takes a Check