It walks on 4 when its young, walks on 2 when it's older, and walks on 3 when its very old?

Identify the hidden meaning behind this picture?

I am 5 letters long.
My first two tell you who I am
My first 3 could be a medicine
My last three reversed could be a young boy.
My 4th, 3rd and 2nd in that order could be a fruit drink.
If you have me you may hang me round your neck
WHAT AM I ?

A father told his three sons he would die soon and he needed to decide which one of them to give his property to. He said, “Go to the market and buy something large enough to fill my bedroom, but small enough to fit in your pocket. From this, I will decide which of you is the wisest and worthy enough to inherit my land.” They all went to the market, and each came back with a different item. The father told his sons to come into his bedroom one at a time and try to fill up his bedroom with their items. The first son came in and put some pieces of cloth he bought and laid them across the room, but it barely covered the floor. The second son came in and laid some hay on the floor, but there was only enough to cover half the floor. The third son came in and showed his father what he bought. He wound up getting the property. What did the third son show his father?

You visit a home for specially-abled children on the occasion of Christmas where you meet with 50 children. You have a box of chocolates containing 50 chocolates exactly.

What if you were asked to one chocolate to each child in a manner that one chocolate still remains in the box? Is it possible?

John went to buy some expensive, foreign chocolates. He only had Rs 100 with him. When he reached the shop, he got out and know that on those chocolates, there was a 15% import duty and 5% VAT.

How much worth chocolate should he buy so that he can accommodate it in Rs 100?

A boy and his father are caught in a traffic accident, and the father dies. Immediately the boy is rushed to a hospital, suffering from injuries. But the attending surgeon at the hospital, upon seeing the boy, says 'I cannot operate. This boy is my son.' How is this situation explained?

Solve this riddle by finding the odd one out from the rest.

In a town, there are over 100 flats.
Flat-1 is named first flat.
Flat-2 is named second flat.
Flat-3 is named third flat.

A visitors 'Victor' decides to walk through all the flats, he finds all the flats except flat-62.
Victor later founds that the local of the town have given it another name.

What is the name of the Flat?

You’re out on the water and see a boat filled with people. You look away for a second and look back again, but this time you don’t see a single person on the boat. Why? Hint: The boat did not sink.