For it to be an acronym, the abbreviation itself has to be a word
So BBC is not an acronym because there's no such word as 'bbc'.

:edit: On looking it up, it would appear this is not quite the case. An acronym has to be pronouncable as a word. So BBC isn't because we pronounce it 'bee bee sea' (letter by letter) but BUPA is because we pronounce it as if it's a word (even though it isn't).
( fool_on_the_hill, Sat 13 Aug 2005, 11:49, archived)

Oh I seeeeeeeeeeeee
*lightbulb in braincell clicks ON*
Cheers :)
( Evil Lu, Sat 13 Aug 2005, 11:51, archived)

but you could do BBC in the compo.
it's just a theme for doing silly pictures, so BBC, NASA, BNP, BA, LASER, NORAD, NOMAD, and RADAR, etc, are all valied 'shops as far as i'm concerned.
( urbane legend i have known the inexorable sadness of pencils, Sat 13 Aug 2005, 11:59, archived)

Yes
The only thing that's wrong is that the word 'acronym' in the challenge description. It was made clear by example that they in fact meant any initialism.
( fool_on_the_hill, Sat 13 Aug 2005, 12:02, archived)

Yes of course
In fact my entry ( first and probably last ) was for British Petroleum, BP as it gave me an option to have a sneaky dig at one of my political pet hates, the ogliarchal oil industry.
( Zoot Cadillac . do androids dream of electric sheep?, Sat 13 Aug 2005, 12:06, archived)