The most common and most likely answer to this crossword clue is the 8 letter word RENOWNED
I've seen this crossword clue in Financial Times
R
E
N
O
W
N
E
D
More clues leading to the result RENOWNED
- Famous soldiers had to keep close to Napoleon
- Rueing regularly getting recognised, being famous
- Famous US city, three quarters Democrat
- Famous section of Army won over Kelly maybe
- Possibly wonder about one exuding love becoming famous
- Famous place for divorcees with West End set
- Prominent topless bird held as property
- Famous study acquired by the Queen is sent back
- Cut in money to be paid had to be acknowledged
Buddy explains!

The straight part
We know that "acknowledged" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case acknowledged = renowned.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RENOWNED mean?
RENOWNED adjective- Famous, celebrated, or well-known.