The excretory system regulates chemical composition in body fluids by removing wastes and retaining proper amounts of water, salts, and nutrients. The kidneys filter blood, removing waste and producing urine, which travels through ureters to the bladder. Nephrons are the basic functional units of the kidney that filter blood, reabsorbing necessary substances and excreting the rest as urine through a multi-step process involving filtration, reabsorption, and secretion.