Once a bug / defect is found in a software application, it undergoes various stages which forms a defect life cycle.
The stages can be as listed below.
1) Open (Once the defect is found)
2) Fixed (Once the developer provides a fix for the defect)
3) Closed (Once the tester confirms after verification that the issue is resolved)
4) Reopen (If the issue is not resolved, the defect can be reopened)
The above stages vary from organisation to organisation.