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acknowledgment
Acknowledgment is admitting or saying that you know something or that something is true. (noun)
An example of acknowledgment is admitting to a friend that you made a mistake.
Acknowledgment is giving someone recognition for something that he did or something he gave to you. (noun)
An example of acknowledgment is giving an employee of the month award to the best performing employee.
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See acknowledgment in Webster's New World College Dictionary
See acknowledgment in American Heritage Dictionary 4
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