The equation is:

$|x| - 5 = 0$

To solve for $x$, first isolate the absolute value term:

$|x| = 5$

The absolute value of $x$ equals 5 when $x = 5$ or $x = -5$, because both $|5| = 5$ and $|-5| = 5$.

Thus, there are two solutions to the equation:

$x = 5 \quad \text{or} \quad x = -5$

So, the correct answer is B. There are two solutions.

Would you like a detailed breakdown of the steps?

Here are 5 related questions to explore further:

1. What is the definition of absolute value?
2. How do you solve equations involving absolute values?
3. What happens if we change the equation to $|x| - 7 = 0$?
4. How would the solution change if the equation were $|x| + 5 = 0$?
5. How does absolute value affect inequalities, like $|x| < 3$?

Tip: Always remember that $|x| = a$ has two solutions, $x = a$ and $x = -a$, when $a \geq 0$.