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One minute, you're glued to Twitter, watching NBA free agency unfold in real-time, your mind racing to figure out why Gordon Hayward joined the Boston Celtics twice.

Then, before you know it, the time has come to deliver feedback on everything you've seen—because, as you know, passing judgment on others from afar is among the most important basketball pastimes of all.

These report cards are based exclusively off every team's performance after the draft. Anything that happened beforehand, while subject to discussion, is not part of the final tally.

Everything from trades, signings, player departures and front-office shakeups factor into grades. Teams are judged according to their own roster situations, salary-cap limitations and overall outlooks. A squad without cap space, for example, will not be penalized because it failed to land a superstar.

Confirmed signings and departures matter more than anything, but unfinished business and missed opportunities are fair game in the grading curve. And these results aren't irreversible. There's a lot of offseason left to slog through. Teams have the ability to improve or damage their stock with whatever signings and trades they endorse next.

So smocks on and sleeves up. Some serious red ink is about to get spilt.