Final answer:
Insulin promotes glucose uptake, has a lipolytic effect, and encourages protein synthesis in muscles, but it does not inhibit glycogenesis (option B); it stimulates it.
Step-by-step explanation:
Among the functions of insulin, options A, C, and D are all correct, meaning that insulin is an anabolic hormone that promotes glucose uptake, has lipolytic action, and promotes protein synthesis in skeletal muscle. However, option B is incorrect as insulin does not inhibit glycogenesis; in fact, insulin promotes glycogenesis, which is the process of converting glucose into glycogen for storage, primarily in the liver and muscle cells. On the contrary, it inhibits glycogenolysis, which is the breakdown of glycogen. Furthermore, insulin's effect on glucose and fat metabolism includes the promotion of glycolysis and fatty acid synthesis, and it binds to its receptor to activate several protein cascades such as the translocation of the Glut-4 transporter, ultimately leading to glucose uptake.