default file name and extensions

For those options that require a file name, the name may include a directory path. If it consists of just a directory path, the default file name is used with that directory. The default file name is the name of the last source file specified with any extension removed.

Default extensions depend on the operating system and how the file is specified on the invocation line. A default extension is always placed on a file unless one is explicitly specified.

If an output file name consists only of a directory, it should always be terminated by a \. If not, it is treated as a file name. Thus,

/L=txt\
outputs the listing to file
txt\cat.lis
(assuming cat.asm is input file).
/L=txt
outputs the listing to txt.lis.