IPA: /əˈkwɪt.əns/
KK: /əˈkwɪt̬.əns/
A document that shows someone has paid a debt or fulfilled an obligation, confirming that they no longer owe anything.
He received an acquittance after settling his debts.
Acquittance is formed from "ac-" (meaning to or towards) and "quietare" (meaning to free or release). The word originally referred to the act of freeing someone from a debt or obligation, thus signifying a release from responsibility.
Think of the idea of 'freeing' someone from a debt or obligation — 'ac-' means towards, and 'quietare' means to release, which helps you remember that acquittance means a release from responsibility.