Is there any status like open/close or solution is accepted by the owner? This can make a lot of difference as we need not look for questions that have already been answered.(saves time).

Yes, there is a modification/plugin for vB that permits this type of thread tagging.

However, we do not get many requests for it.

Plus, marking something "solutions accepted" does not often give a chance for others to comment.

(I think we discussed this topic on this site before....)