The correct answer is 'Displays the range of memory available along with the online and offline status' because the 'lsmem' command is mainly used to list the ranges of available memory and their attributes, such as online and offline status. The other options are incorrect because 'lsmem' does not directly display swap usage details, network memory statistics, or manage memory usage; instead, it provides an overview of memory range statuses that are critical for system memory analysis.