Acronym

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Acronym

An abbreviation made from the first parts (usually the first letters) of a multi-word term. Strictly speaking, acronyms form pronounceable words, such as STRIPS. Those that do not are called initialisms, such as SEC. However, the term has come to refer to all abbreviations. Acronyms are very common in business and finance, and often are used so commonly they nearly replace the original term. For example, price-earnings ratio is often shortened to P/E and a chief executive officer is usually called a CEO.