Final answer:
The liver produces bile, detoxifies substances, and stores glycogen. However, it does not directly form insulin.
Step-by-step explanation:
The liver produces and excretes bile that helps break down fats in the digestive system and neutralize acidic chyme. It also detoxifies harmful substances and breaks down waste products. While the liver is responsible for the formation of insulin-like growth factor (IGF-1) and it stores sugar as glycogen, it does not directly form insulin. Therefore, option B) Formation of insulin is not a function of the liver.