Final answer:
The large intestine is the part of the alimentary canal responsible for absorbing water and electrolytes. It recovers water and mineral salts from undigested food and processes waste material for elimination.
Step-by-step explanation:
The part of the alimentary canal that functions to absorb only water and electrolytes is the large intestine. The large intestine reabsorbs water from the indigestible food material and electrolytes, and processes the waste material. In contrast, the majority of nutrient absorption occurs in the small intestine, including most absorption of carbohydrates, proteins, water, lipids, electrolytes, as well as certain vitamins like vitamin B12 and bile salts. The large intestine's main functions include extracting water and mineral salts from undigested food and storing waste material.