Explanation:
the first, second and fourth statements are correct.
the parent absolute value function is
y = |x|
so, y = x is the foundation. so, the graph is a line that goes exactly diagonally (at 45°) from (0, 0) to infinity.
the special thing about the absolute value is that it delivers only the positive value of whatever is inside the function. so it turns the negative diagonal of y = x up above the x-axis.
and so it makes a perfect "V" sign with the vertex at (0, 0), and it is therefore symmetric around the y-axis (the y-axis is like a mirror).