Which component of a compass is floating and used for navigation?

The component of a compass that is floating and used for navigation is indeed the base. The base serves as the platform for the compass, but it's essential to understand the role of the floating element, which actually refers to the compass needle. The needle is housed within a liquid-filled chamber, allowing it to pivot freely to align itself with the Earth's magnetic field. This floating mechanism is critical for accurate navigation, as it enables the compass to provide consistent directional readings.

While the base has an essential function in stabilizing the compass and providing a surface for other components, it's primarily the needle that floats and directly aids in navigation. Other components, such as the bezel ring, black index line, and thumb loop, have their specific purposes but are not the floating element that aids in determining direction. The bezel ring allows for setting a specific bearing, the black index line helps indicate the direction when aligned with the needle, and the thumb loop aids in holding the compass securely during use.