Technically, an acronym is a word that is formed by combining some parts (usually the first letters) of some other terms. For example, modem is the acronym derived from modulator/demodulator and FORTRAN is the chosen parts of the words formula translator.
Acronym Versus Initialism
In everyday speech, the term is also used to refer to initialisms, which are combinations of letters representing a longer phrase. For example, CRT is an initialism for cathode ray tube.The difference is that an acronym is pronounced as if it were a word rather than just a series of individual letters.
|ASAP||As Soon As Possible|
|BTW||By The Way|
|FWIW||For What It's Worth|
|FYI||For Your Information|
|IMO||In My Opinion|
|LOL||Laughing Out Loud|
|ROTFL||Rolling On The Floor Laughing|
Recommended Reading: Webopedia's page of text messaging abbreviations.
Also see related phrase recursive acronym, a type of acronym commonly used in the computer and technology industry that will reference a person, company or a product name in the acronym itself.
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