A piece of paper is folded and punched as shown below in the question figures. From the given answer figures, indicate how it will appear when opened.
[Image showing steps of folding a square sheet of paper and punching circular holes near the edges]

Let's retrace the unfolding stages:
When the final fold is opened up, the punched hole mirrors across the crease line.

Unfolding completely to the full square shape duplicates this symmetric pattern across all four quadrants.

This creates symmetrical punches aligned along the axes or diagonals depending on the orientation of the folds.

Comparing with the given choices, option A correctly shows the positions of the holes upon complete opening.