What does book value per share of common stock represent? Does it represent the amount common stockholders

Question:

What does book value per share of represent? Does it represent the amount common stockholders would receive in the event of of the corporation?
Explain briefly.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....