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Commonly Confused Words: its vs. it's

The company fired 20 employees, including __________ CFO.

Incorrect. It's is an abbreviation of it is, which does not fit into the sentence. 

The correct answer is its, which in this case means the company's.

Correct!

The correct answer is its, which in this case means the company's.

It's is an abbreviation of it is, which does not fit into the sentence. 

it's
its

I don't know