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When "All open transactions as of statement date" is selected in QuickBooks, it lists all the transactions that have not been cleared or settled by the specified date of the statement. This means that the statement will reflect only those transactions that are still active or pending as of that particular date, providing an accurate view of the account status for that time.

This feature is particularly useful because it helps users quickly identify which invoices, payments, and other transactions are outstanding. It allows businesses to understand what amounts are still owed to them or what they still need to pay. In contrast, other options would include transactions that are no longer open, such as those that have been resolved or cleared, which is not the focus of this specific selection in QuickBooks.