Final answer:
The correct statement among the given options is that the start codon is AUG. The initiator tRNA binds to the P site, not the A site, during initiation, and peptide bond formation during elongation involves a ribozyme, not an amino-acyl-transferase.
Step-by-step explanation:
The correct statement is: The start codon is AUG.
During the initiation phase of translation, the initiator tRNA carrying methionine binds to the P site of the ribosome where it pairs with the AUG start codon. Elongation involves charging tRNAs entering the A site, not the P site, and peptide bonds forming between adjacent amino acids. This bond formation is not mediated by amino-acyl-transferase but rather by the ribozyme peptidyl transferase. Termination of translation indeed occurs when a stop codon is encountered in the A site, which is recognized by release factors, not by a tRNA.