Cancel means everything is cancelled???

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OK, this is somewhat confusing. I have an old account here, which I created two years ago. However, since it was not active, I decided to cancel it some time in June or July this year, and at the same time I have created this new account and been active since. So, tell me, if an account has been cancelled, can you still sign in?? Apparently, I still can... So, does that mean the old account is still active??? Please help. Thanks!