She 'is' widely/generally 'acknowledged' as one of the world's best chefs. [=many people regard her as one of the world's best chefs]
He refuses to 'acknowledge' the authority of the court. [=he denies that the court has authority]
The players 'acknowledged' their fans by waving their hands and blowing kisses into the crowd.
(..) they'll find they're missing a prisoner. - I'll be welcomed back like a hero. - Perhaps. Personally, I've never had much time for heroes. Today, we acknowledge... ...a really terrible loss. Cedric Diggory was, as you all know... ...exceptionally hard-working... ...infinitely fair-minded... (..)2005 Harry Potter and the Goblet of Fire