Final answer:
All options listed are true biological functions of water, including protection and lubrication, regulation of blood volume, participation in chemical reactions, and stabilizing body temperature, so none of the options represent a non-function of water.
Step-by-step explanation:
The question pertains to the biological functions of water, which are critical for maintaining life. Water has several physiological functions that are key to survival and proper functioning of living organisms. Among the options provided, all are true biological functions of water except there is no incorrect option listed as all given functions (protection and lubrication, regulation of blood volume, involvement in many chemical reactions, and stabilizing body temperature) are indeed physiological roles water plays. Therefore, no option provided in the question is NOT a biological function of water. Every one of them is a well-established role that water plays in biological systems.