How to use possessive apostrophe(s) with plural acronyms and initialisms/abbviation?

Question

I already know that we put possessive apostrophe at the end of the word if we want to show that more than one person owns some thing. Example: My brothers' car.

My question is, how should I use possessive apostrophe with acronyms and initialisms/abbviation when they are plural ?

Example sentence:

I have three CAs in my family. They all love imported cars. All our CAs' cars are black in color.

In the above sentence, "our CAs' cars are black in color", did I use the possessive apostrophe with the abbviation "CA" in the correct way?

Answer 1

According to Oxford Dictionaries, yes.

When you are forming the plural of an initialism, you do not need to use an apostrophe, for example:

MPs — e.g. MPs voted against the bill.

CDs — e.g. I bought some new CDs today.

Note that the possessive form of initialisms is formed in the usual way, with an apostrophe + s:

an MP’s salary (i.e. the salary of an MP)

a report on MPs’ expenses (i.e. the expenses of MPs)

the CD’s subtitle (i.e. the subtitle of the CD)