User membership Insight report: Membership status, Account expiration date, Membership expiration da

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I ran the user membership insight report. I am confused on how to read the account expiration and membership expiration dates.  What is the difference between the two?

Another question I have is how these fields impact Membership status. For instance if either of the expiration dates is in the past, should the membership status change from 'Approved' to 'Removed'?