The correct option is C The first part of the statement is true and other part is false
The net force of the body is zero that doesn’t mean that the force are not being applied to the body at all and hence the body is in equilibrium. The equilibrium is only attained if the net force on the body tends to be equal to zero. Thus the forces cancels out. If this happens there is no motion of the body along any direction and hence the body is said to be in equilibrium.