Well, with a simple hack, you can actually switch off the menu bar and status bar and get your VM to run in the maximum resolution.
Run the following command in your terminal (or command prompt):

Start your VM. The Menu bar and the Status bar should be gone now. To retrieve back your menu bar and status bar, run the command: While the menu bar is gone, you might want to learn some Virtualbox keyboard shortcuts to quickly access the menu options. Bring up the menu options – Host + HOME

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