Hello Lakshith,
Initially when a lead is created it takes up the status as Open and status field dropdown only shows Open and Qualified status. Once you assign qualification level in the lead then the lead status is changed automatically as qualified and it is taken based on the Business configuration settings that you have maintained for Leads Qualification Level it takes up the status accordingly.
Once lead status changed to qualified then in dropdown other status (as Accepted, declined, Open etc.) will be available.
The internal lifecycle of leads proceeds as follows:
Open: When the user creates a lead, the solution assigns it the internal status Open.
Qualified: Once the user qualifies the lead, its internal status changes to Qualified. If you choose to define more than one status that uses Qualified, then the solution must determine which status to display when a lead is qualified. As delivered, the solution displays the status with internal status Qualified and the lowest sequence number.
Converted: When the user converts the lead into an opportunity or account and contact, the internal status changes to Converted, and the lead cannot be reopened. Once the status Converted is assigned to a lead, the user cannot modify the lead, or assign a new status to it.
Regards,
Amit Kumar
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