Step 1: Concept A limit exists only if the Left Hand Limit (LHL) and Right Hand Limit (RHL) are equal.
Step 2: Meaning $|x|/x = 1$ for $x > 0$ and $|x|/x = -1$ for $x < 0$.
Step 3: Analysis RHL ($x \to 0^+$): $1 + 0 + 2 = 3$. LHL ($x \to 0^-$): $-1 + 0 + 2 = 1$.
Step 4: Conclusion Since LHL $\neq$ RHL, the limit does not exist.
Final Answer: (D)