Which of the following statements is true about an object, if the forces acting on the object are balanced?

If the forces are equal, there is no net force acting on the body, the object will be in equilibrium. The body will not accelerate if the net force is zero, but it will have velocity. Hence, if the object was already moving at a certain speed, it will continue to move at the same speed, and if it was at rest, it will remain at rest.