Which statement accurately describes the Product Backlog?

The Product Backlog is a dynamic and evolving artifact in Scrum that reflects the most current understanding of what is needed for the product. It grows and changes as the team learns more about the product, market, and customer needs. This adaptability is crucial, as it allows the Scrum Team to refine and reprioritize items based on emerging insights, feedback from stakeholders, and changing conditions.

This ongoing adjustment ensures that the team is always working on the highest value items, making the backlog a living document rather than a static list. As such, this statement reflects the nature of the Product Backlog as being responsive and iterative, which aligns with core Agile principles. The continuous evolution of the Product Backlog allows the team to deliver value incrementally and adjust their focus as necessary.