When acid and basic solution are mixed, which of the following is observed?

If we mix acid and basic solution, the acidic nature of acid and the basic nature of base are destroyed. This reaction is called neutralization. 

For example- In the following chemical reaction, HCl is acidic and NaOH is basic in nature. These two compounds react together to form NaCl (salt) and water. NaCl and water are neutral in nature. Hence, we can say that If we mix the acid and basic solution, the acidic nature of the acid and the basic nature of the base are destroyed.

$\mathrm{HCl}\left(aq\right) + \mathrm{NaOH}\left(aq\right) \to \mathrm{NaCl}\left(aq\right) + {\mathrm{H}}_2\mathrm{O}\left(l\right)$