What are the different Application Statuses?

Within the Active Applications the following statuses will be displayed for applications:
Pending - This indicates you have sent the application to the applicant but they have not submitted the application yet.
Submitted - This indicates the applicant has submitted the application and it is ready for your review.
Approved - You can set the status to Approved if you have decided to accept the applicant.
Rejected - You can set the status to Rejected if you have declined the applicant.