Which of the given statements is/are correct in the context of account balances of the Ledger?

(i) A debit balance of a personal account means that the party owes that amount to the business.
(ii) All real accounts show a debit balance.
(iii) Nominal accounts are not usually balanced, but closed by transfer to the Profit and Loss Account, at the time of preparing the final accounts.

A

Only (i)

B

Only (ii)

C

All (i), (ii) and (iii)

D

Only (ii) and (iii)