That means you bought BC or better plywood. This is going to go way more into depth then you could ever want.
Plywood is made from a tree obviously. 4' wide trees are not in abundance. What they do, is take a tree, and "unwrap it" so you get a piece of flexable wood about 1/16" thick. Now, everywhere there is a branch, you end up with what is called a "knot" in the wood. When they glue the plywood together, these knots can fall out, and leave a hole. This is fine for some grades. (see next paragraph) I bet you bought BC plywood.
There are 4 main grades of plywood. A B C and D.
D = Construction grade. It has 90% the streanth of AB or BC, but doesnt look as good. knots are not patched, and regularly fall out. It is also not sanded.
C = Kinda decent. Knots are not allowed to fall out, they must remain in the plywood. ( I think 1 or 2 are allowed, not 100% sure) Mild sanding is done.
B = Good. Knots are patched, meaning the knot is cut out, and a patch is put in its place. these are usually football shaped for better adheasion. 4 patches are allowed, no more (usually)
A = no patches or knots. Sanded, and looks awesome.
Now, these are "side codes". So when you order "BC" one side is B, one is C. This is the most "normal" plywood. CD (also called CDX) is construction grade, one side C, one D. Looks like crap, but is cheap and strong. This is what your roof and walls are made out of. If you have a plywood floor, it is BC, but most flors nowadays are chipboard.
You can tell them apart real easy @ the store by the end markings: black = CDX. Green = BC. Red = AC. These colors are in bands. the more there is, the thicker the plywood. 5 lines = 3/4" thick, 4 = 5/8", 3 = 1/2 (if one color is white, or different from the others, it is 4 ply 1/2" which can be required for roofing instead of regular 3 ply.) 2 = 3/8"
There are 2 major kinds of plywood. Regular and water treated. Regular still has waterproof glue, but water treated is green like a decking board. this is for the ultimate in water and rotting resting. Commonly used in boats and shed floors. It is copper chromium arsinide treated. (CCA) usually.
That should be all you ever need to know about plywood 🙂