A jóváhagyás és az elutasítás fontos.

Both a and az mean the.

Hungarian uses:

• a before a word that starts with a consonant sound
• az before a word that starts with a vowel sound

So here:

• a jóváhagyás because jóváhagyás starts with j
• az elutasítás because elutasítás starts with e

This is similar to how English has a/an, but Hungarian does it with the definite article instead.

In Hungarian, the verb to be is usually left out in the present tense, third person when the predicate is a noun or adjective.

So:

• A jóváhagyás és az elutasítás fontos. literally looks like
• The approval and the rejection important.

But it naturally means:

• The approval and the rejection are important.

You do use van/vannak or other forms of to be in other situations, for example:

• past: fontos volt = was important
• future: fontos lesz = will be important
• first person: fontos vagyok = I am important

That is a very natural question.

Hungarian can use singular or plural agreement here, depending on how the speaker frames the subject.

• fontos can present the two ideas as one combined matter or issue
• fontosak emphasizes them more clearly as two separate things

So:

• A jóváhagyás és az elutasítás fontos. = a natural general statement about the pair/concept
• A jóváhagyás és az elutasítás fontosak. = also possible, with clearer plural agreement

Learners often expect only the plural, but the singular is not unusual in abstract statements like this.

Hungarian normally repeats the article when two definite nouns are joined by és and both are being referred to separately.

So:

• a jóváhagyás és az elutasítás

is the standard, clear form.

Using an article with only the first noun would sound less natural here. Repeating the article makes it clear that both jóváhagyás and elutasítás are separate coordinated nouns.

They are nouns made from verbs.

• jóváhagyás = approval
• elutasítás = rejection / refusal

A very common Hungarian noun-forming ending is:

• -ás / -és

It often corresponds to English nouns like:

• approval
• rejection
• decision
• writing

So:

• jóváhagy = to approve
• jóváhagyás = approval

and:

• elutasít = to reject
• elutasítás = rejection

In elutasítás, the -ítás part is not a separate case ending here; it is just part of the noun formed from the verb.

Yes, you could.

Hungarian word order is more flexible than English word order, and it often depends on what is being emphasized.

• A jóváhagyás és az elutasítás fontos.
  This presents the approval and the rejection as the topic, then says something about them.

• Fontos a jóváhagyás és az elutasítás.
  This puts more focus on important.

Both are grammatical. The difference is mainly about information structure and emphasis, not basic meaning.

Hungarian uses the definite article more often than English, including with abstract nouns and general concepts.

So Hungarian can naturally say:

• A jóváhagyás fontos.
• Az elutasítás fontos.

even where English might simply say:

• Approval is important.
• Rejection is important.

So the articles here do not necessarily mean a very specific single approval and a specific single rejection. They can still be understood in a general sense.

The accents are part of the spelling and are very important in Hungarian.

They usually mark vowel length:

• a vs á
• i vs í
• o vs ó

So:

• á, ó, í are pronounced longer than a, o, i

In this sentence:

• jóváhagyás
• elutasítás

those long vowels should really be pronounced as long vowels, not ignored.

Also, Hungarian stress normally falls on the first syllable of each word:

• JÓváhagyás
• Elutasítás
• FONtos

That makes Hungarian rhythm much more regular than English.