Lipids with a glycerol backbone and two fatty acids with a phosphate group are known as sterols.

Name: Lipids with a glycerol backbone and two fatty acids with a phosphate group are known as sterols.
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Lipids with a glycerol backbone and two fatty acids with a phosphate group are known as phospholipids, not sterols. Sterols are a type of lipid with a different chemical structure that includes a four-ring structure, such as cholesterol or steroid hormones.

Lipids with a Glycerol Backbone and Two Fatty Acids with a Phosphate