Yep you can cancel immediately after you have done the test, and yes schools will see that. Whether or not they care is open to debate, because they rarely comment on how they view it.
Thanks for the suggestions. I am appearing for the June LSAT but will probably cancel the score. I think I can have a shot at160-165 if I retake the test in September.
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I think it you withdraw before sitting in the exam it won't count as one take. However, if you decide to take the test and cancel it-- then it will count as a take.