Final answer:
The incorrect statement about lipids is that they store genetic information. Lipids serve various functions such as energy storage and insulation, but genetic information storage is not one of them.
Step-by-step explanation:
The incorrect statement about lipids is:
d. They store genetic information.
Lipids are hydrophobic and include a variety of compounds such as fats, oils, waxes, phospholipids, and steroids. They are important for the storage of energy, insulation of the body, and as a structural component of cell membranes and hormones. However, lipids do not store genetic information; this function is performed by nucleic acids like DNA and RNA.