lose it vs acquit

lose it and acquit both are verbs.

Word	Noun	Adjective	Verb	Adverb
lose it	No	No	Yes	No
acquit	No	No	Yes	No

As verbs, acquit is a hypernym of lose it; that is, acquit is a word with a broader meaning than lose it:

lose it: lose control of one's emotions
acquit: behave in a certain manner; show a certain behavior; conduct or comport oneself

Other hypernyms of lose it include act, bear, behave, carry, comport, conduct, deport, do.

lose it (verb)	acquit (verb)
lose control of one's emotions	behave in a certain manner; show a certain behavior; conduct or comport oneself
	pronounce not guilty of criminal charges