What is the Approval Status field in a related record?

The Approval Status field is added to a record when a module is linked to at least one active approval process. When a record is submitted for approval, the Approval Status field can be one of the values listed below.

Not applicable: If the record did not match the entry criteria for any approvals.
Not Submitted: If the next level approver cannot be determined or assigned to a group, or the record is closed.
Waiting for approval: If waiting for the approver’s action.
Approved: If all the approvers have approved.
Auto-approved: If the record matched the entry criteria but did not match any of the process rules.
Rejected: If at least one or all the approvers has rejected.
Canceled: If an approver has canceled.