Final answer:
Lipids are not soluble in water but are soluble in organic solvents. They have a wide range of functions in living organisms.
Step-by-step explanation:
Lipids are a diverse group of biomolecules that are not soluble in water but are freely soluble in organic solvents. They have a common property of being water insoluble. Lipids can be dissolved in nonpolar solvents like ether or chloroform. They play various roles in living organisms, such as energy storage, signaling, and acting as structural components of cell membranes.