Definition of cancel out phrasal verb from the Oxford Advanced Learner's Dictionary

 

cancel out

 phrasal verb
phrasal verb
 
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Phrasal Verbs

cancel out

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cancel somethingout

 
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if two or more things cancel out or one cancels out the other, they are equally important but have an opposite effect on a situation so that the situation does not change Recent losses have cancelled out any profits made at the start of the year. The advantages and disadvantages would appear to cancel each other out.
See the Oxford Advanced American Dictionary entry: cancel out