Which of the following describes a 'Pending' status in the transaction list?

A 'Pending' status in the transaction list indicates that the transaction is awaiting approval before it can be completed. This status is particularly relevant in situations where certain approvals are required to authorize a transaction, ensuring that funds are properly managed and accounted for within organizational policies.

When a transaction is marked as pending, it suggests that it has been initiated but has not yet been finalized, primarily because it is still in the process of being reviewed by an approving official or designated authority. This allows for oversight and control, helping to prevent unauthorized or inappropriate transactions from moving forward.

In this context, transactions that are completed successfully, canceled, or marked as suspicious do not carry a 'Pending' status, as they reflect different stages of transaction processing or outcomes altogether.