The document discusses the three main functions of the apostrophe:
1. To form possessives, such as the manager's report. Possessives ending in "s" may or may not take an additional "s" depending on the word.
2. To show contractions where something is left out, such as "I'm" for "I am".
3. To form plurals of digits and letters, such as "3 A's and 3 B's". Apostrophes are also used to omit numbers in dates, like "fall of '86". Proper use of apostrophes makes writing easier to understand.