Those menus are where you choose the recording source, PC sound input and output, and a choice of recording in mono or stereo. The choice for recording Windows system audio is “Windows WASAPI ...

Hence, the device can run lag-free multiple audio-playback software. It also uses the ASIO (Audio Stream Input Output) channels to provide the best quality low-latency output.

Developed by pro audio company Steinberg, Audio Stream Input Output (ASIO) is a multi-channel audio transfer protocol used by hardware and software makers.