Explanation:

- Option 1: Fracsion

- This is not the correct spelling. The correct term should have a "t" instead of "s" in the middle to complete the sound of the word "fraction."

- Option 2: Frcation

- This option is also incorrect. It omits the necessary "t" after the "c," resulting in an incomplete spelling.

- Option 3: Fraction

- This is the correct spelling. It refers to a part of a whole and is used in mathematics and other contexts.

- Option 4: Fractition

- This is not a recognized word in English. It might be a misspelling or confusion with another term.