Neither. The word "it" is a pronoun, not a noun.
The possessive form of this word is its, without an apostrophe. Possessive pronouns do not have apostrophes, e.g. his, hers, theirs, its.
The word it's is a contraction, and short for it is. Therefore, it is incorrect to say "look at the dog chewing it's bone" as you would really be saying "look at the dog chewing it is bone".
Some examples of possessive nouns:
The word 'it' is a pronoun, not a noun. The possessive pronoun has no apostrophe,'its'. None of the possessive pronouns use an apostrophe.
The word it's using the apostrophe is a contraction combining the words 'it' and 'is' or 'it' and 'has'.
The plural possessive pronouns are: ours, yours, theirs.
The plural possessive adjectives are: our, your, their.
Examples of plural possessive nouns are:
Possessive nouns indicating ownership or possession:
the car of my mother = my mother's car
the teacher of our class = our class's teacher
the coats of the children = the children's coats
the covers of the books = the books' covers
Possessive nouns indicating origin or purpose:
children's shoes; shoes intended for children
ladies' room; a room intended for the use of women
Shakespeare's plays; plays by Shakespeare.
today's newspaper; the newspaper originated today
A possessive noun is a noun that shows that something in the sentence belongs to that noun, indicated by an apostrophe -s, or just an apostrophe for plurals already ending in -s; for example:
A possessive noun is a noun indicating ownership or possession. Examples:
The possessive is its. It's is just a contraction of it and is.
boys - plural noun
boys' - possessive plural noun
men - plural noun
men's - possessive plural noun
nouns,pronouns,possesive,
Absract, Compound, Collective, Proper, Singular, Plural, Concrete, Possesive
For plural nouns that end in -s add an apostrophe. - parents' The parents' cars were in the driveway.
The possessive of all English plural nouns not ending in -s is formed by adding -'s: oxen's
Examples of nouns are:anarchyanimositybeautybraverycommunismconceptcuriositydemocracydisciplineemotionfeelingfreedomfriendlinessfriendshipfungoalHappinessHatehonestyhonor
Examples of gender specific nouns are:auntbullkingmotherrooster
Examples of nouns for things are:appleballooncardiamondeducationflowergardenhydrogenicejokekitchenlunchmoneynecktieonionpromisequiltreasonstartoothumbrellaviolinwaterx-rayyearzenith
Examples of singular nouns ending in -io are:audioimpresariopatioPinocchiopistachiopolioportfolioradioratiotrio
Examples of boring nouns are:drilldrilling rigoil rigaugermouseratbadgermeerkatbark beetlestermites
The plural of bus is buses, and the possessive of all English plural nouns ending in -s is formed by adding an apostrophe: buses'
Some examples of 'quality of mind' nouns, also called abstract nouns, are:anxietybraveryconfidencedecisivenesseuphemismfungenerosityhappinessisolationjoyknowledgeluxurymemorynewsopinionpurposequestionreasonsorrowtroubleurgevaluewealthyearzeal
Examples of nouns that end in "s" are: bus, class, glass, kiss. Examples of nouns that end in "ch" are: beach, lunch, coach, approach. Examples of nouns that end in "x" are: fax, box, appendix, cortex.