Final answer:
Lipids have multiple functions in the body including providing energy, acting as structural components, and serving as signaling molecules. The false statement in the given options is that fatty acids play a vital role in hormone development.
Step-by-step explanation:
Lipids, also known as fats, serve various functions in the body. They provide energy, act as structural components, serve as signaling molecules, and aid in the absorption of fat-soluble vitamins. The false statement in the given options is d) Fatty acids play a vital role in hormone development. While lipids do serve as structural components of hormones, they do not directly play a role in hormone development.