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Is the act of admitting or showing an appreciation to a shortcoming.

Answer:

It can mean a couple of things.

It is giving recognition to a person or group for having helped with or done something to aid the person or group giving the the acknowledgement, the recognition. This is often done in the forward of books/novels acknowledging people who helped with the book.

It can also be a person accepting fault or blame for doing something wrong or making a faux pas. John acknowledged he had taken some money from the coffee fund to buy himself so candy.

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