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If you are "on it," then you are immediately going to start on whatever it is. If you are "on top of it," then you are successfully dealing with whatever it is. These phrases are usually used in a business sense, where "it" is a project or job, but you might hear it used when the person means a task or chore. "The computer is not working," Mary said. "I'm on it," replied Stan.

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Q: What is the meaning of the expression you are on it?
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