Service cancellation on EC2

If you are taking about ec2 instance only then yes it cancelled as soon as you terminate..

But EBS volumes might depends how you terminate instance..

When terminating an EC2 instance, you need to also terminate the EBS volume and any associated Elastic IPs if they were purchased. See this article for more information: https://aws.amazon.com/premiumsupport/knowledge-center/ec2-billing-terminated/