The Absolute Value can be defined in many ways, but these are the two most common :
1. As a Piecewise Function
$$ |x|= \begin{cases} -x&\text{if } x < 0\\ x&\text{if } x\geq 0 \end{cases} $$
2. As The Principle Square Root of a Square
$$|x| = \sqrt{x^2}$$
In the second definition that I've included here, what stops us from doing the following, and reaching a contradiction?
$$|x| = (x^{2})^{\frac{1}{2}} = x \ \ \ \ \ \ \ \ \ \ \ \text{Contradiction}$$
Likewise, if I have $f(x) = \ln(|x|)$, what is the reason why the following contradiction can't be reached :
$$f(x) = \ln(|x|)$$ $$\implies f(x)=\ln(\sqrt{x^2})$$ $$\implies f(x) = \ln[(x^2)^{\frac{1}{2}}]$$ $$\implies f(x) = \frac{1}{2}\ln(x^2)$$ $$\implies f(x) = \frac{1}{2} \cdot 2 \ \ln(x)$$ $$\implies f(x) = \ln(x) \ \ \ \ \ \ \ \ \ \ \ \text{Contradiction}$$
First off, I want to thank everyone for their answers here, but I found this to be the most general answer after thinking about this question for a while.
$$(a^{n})^{\frac{1}{n}} = a \ \ ,\ \text{if} \ \ n \ \ \text{is odd}$$ $$(a^{n})^{\frac{1}{n}} = |a|\ \ ,\ \text{if} \ \ n \ \ \text{is even}$$
Stated a bit more formally :
$$(a^{2n+1})^{\frac{1}{2n+1}} = a \ \ ,\ \forall n\in\mathbb{Z}$$ $$(a^{2n})^{\frac{1}{2n}} = |a|\ \ ,\ \forall n\in\mathbb{Z}$$
Parts of this answer and the intuition developed behind it have come from Paul's Online Notes, so full credit must go to that site.