In simplistic terms, if a business goes into liquidation it means: The business stops trading with immediate effect. The employees are all made redundant. The assets of the business are sold to pay creditors.
What Is a Path? A file system stores and organizes files on some form of media, generally one or more hard drives, in such a way that they can be easily retrieved. Most file systems in use today store the files in a tree (or hierarchical) structure. At the top of the tree is one (or more) root nodes.
Let's be precise: /is a path which begins with a /, and thus it is an absolute path. Thus, we need to begin in the root of the file system and navigate through the folders given by name, whereas the names are separated by /s (because this is the unix path separator).