How to understand online grade reports (grade of IP)

There are times when the grade that shows up in your portal is unusual. Here are some examples of what those mean.

IP- the grade is still "in-process" indicating that the professor has not yet submitted the grade
CR- credit has been given for a course without a letter grade on a pass/fail, credit/no credit basis
NC- credit has NOT been given for a course without a letter grade on a pass/fail, credit/no credit basis
I- the course has been marked “incomplete” and the student will finish the work for the course at a later date (pre-determined by the registrar)