What does it mean for a NetworkBehaviour's isClient and isServer flags set to TRUE?

While I was looking in the editor, I noticed my game object (with NetworkBehaviour attached) has both the flags, isClient and isServer, all true.



When this happens, what does it mean? Both the client and the server have authority over this game object simultaneously?

 

I am not sure, but maybe it's a host?

 

I am also not sure, but that does seem more like it.

 

I understand what individual flags meant, I just don't know what to make out of it when both of the flags, or in my case all flags, are true.

 

Means you're a host who's playing as opposed to just a host.