The absolute value parent function is defined as:

$f(x) = |x|$

The graph of this function is a "V" shape, with the vertex at the origin, $(0, 0)$.

Analyzing the intercepts:

1. X-Intercept: The x-intercept is the point where $f(x) = 0$. Solving $|x| = 0$, we get $x = 0$.
2. Y-Intercept: The y-intercept is the point where $x = 0$. Substituting $x = 0$ into $f(x) = |x|$, we get $f(0) = 0$, so the y-intercept is also $(0, 0)$.

Thus, the point $(0, 0)$ is both the x- and y-intercept.

Correct Answer:

B. (0, 0) is the x- and y-intercept of the function.

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Do you want further details or have any questions?
Here are 5 related questions to deepen understanding:

1. What is the general form of the absolute value function, and how do transformations affect it?
2. How do we determine the vertex of a transformed absolute value function?
3. Can a different function have the same x- and y-intercept? Provide examples.
4. What are the domain and range of the absolute value parent function?
5. How do absolute value graphs differ from linear graphs?

Tip: When analyzing graphs, always check both intercepts by substituting $x = 0$ for the y-intercept and $y = 0$ for the x-intercept.