The term absolute value, in mathematics, simply means the positive value, so if you have a negative number such as minus six, the absolute value is six. You just convert all negative numbers to positive numbers, and the positive numbers remain as they are. That's all it means. The reason why we even have such a concept is that certain types of equations will have both positive and negative solutions, and you may want only the positive solution, so you specify the absolute value.
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It's pretty much the exact same as finding the absolute value of a regular cardinal number (1, 2, 3, etc.). I can't really think of anything that changes for fractions. Just take it like you would usually do it.