The motherboard connects all the PC components together. It has sockets for the CPU, RAM, expansion slots for devices, and connectors for drives and ports. The chipset on the motherboard controls communication between these components and the CPU. Key components on the motherboard include the CPU socket, memory sockets, expansion slots like PCI and ISA, drive controllers for connecting hard drives and floppy drives, and ports. The BIOS chip stored on the motherboard controls low-level processes during startup.