best wishes vs acknowledgement

best wishes and acknowledgement both are nouns.

Word	Noun	Adjective	Verb	Adverb
best wishes	Yes	No	No	No
acknowledgement	Yes	No	No	No

As nouns, acknowledgement is a hypernym of best wishes; that is, acknowledgement is a word with a broader meaning than best wishes:

best wishes: an expression of hope for someone's future happiness or welfare.
acknowledgement: a statement acknowledging something or someone

Other hypernyms of best wishes include acknowledgment.

best wishes (noun)	acknowledgement (noun)
an expression of hope for someone's future happiness or welfare.	a statement acknowledging something or someone
	the state or quality of being recognized or acknowledged