All-round light is a white light shining constantly over the horizon at an arc of 360 degrees.
The arc of the lights and color allows you to determine the direction a vessel is moving. How good are your lights? You should test them to see how visible you might be at night. Whether on a trailer or at the marina, switch on your lights and see how well they can be seen. Walk away from the boat or row away, if you are at anchor or at a mooring, and see how visible the lights are as you move further away. How easy are they to see against the background of lights on shore?