Consider the following statements : 1. There is no net moment on a body which is in equilibrium. 2. The momentum of a body is always conserved. 3. The kinetic energy of an object is always conserved. Which of the statements given above is/are correct?

Statement 1 is correct because equilibrium, whether static or dynamic, requires that both the net force and the net torque (moment) acting on a body are zero. This ensures there is no linear or angular acceleration. Statement 2 is incorrect because the momentum of a body is only conserved if the net external force acting on it is zero; it is not 'always' conserved for any single body in isolation. Statement 3 is incorrect because kinetic energy is only conserved in perfectly elastic collisions. In inelastic collisions, kinetic energy is converted into other forms of energy such as heat, sound, or potential energy, and is thus not conserved. Therefore, only the first statement regarding the net moment in equilibrium is universally true in the context of mechanics.