It has the following life cycle such as:
New: When the bug is posted for the first time is called new.
Open: After the tester sends the bug, the lead checks if it genuine then it is called as open.
Assign: After the lead checks, he assigns to the developer and that state is called assign.
Test: Before the developer releases the software with bug fixed, he changes the state of bug to “TEST”.
Fixed: When the developer resolved the bug the status is fixed.
Reopen: If the bug still exists even after the bug is fixed by the developer, the tester changes the status to reopen.
Closed: If the bug is no more the status is closed.