Is it possible to record an instrument track or MIDI track straight to an audio track in Cubase?

I’m using Cubase Elements 11 on a Windows 10 laptop. I know it’s possible to export instrument or MIDI tracks to audio, however I would like to know, is it possible to record instrument or MIDI track to audio as I play them on my MIDI controller keyboard? In other words, instead of the notes from VSTs such as Halicon SE being recorded to MIDI, can you record them straight to audio in real time?

Also, is it possible to record an existing instrument track or MIDI track to an audio track in Cubase in real time, i.e. not by exporting? I think it could be possible if the routing is done correctly? The reason I ask is because I’ve noticed that sometimes on things like synth comp patches, the arpeggiated patterns of an instrument track don’t translate properly to audio when I export them (there can be random little volume discrepancies on some notes, for example), so I want to look into other ways to create audio tracks out of instrument/MIDI tracks in Cubase. Thanks.