Are late penalties applied to Complete/Incomplete assignments?

[plodge]

If I designate an assignment to be worth 10 points and to be graded as Complete/Incomplete, but the student submits the assignment late, does my standard late penalty (2%) still get applied?  (I hope so, but can't tell.)

[stimme · Accepted solution]

@plodge No, late submission deductions do not apply to assignments using the Complete/Incomplete grading display option. This is one of the many caveats in the Notes at the top of the guide: How do I apply a Late Submission policy in the Gradebook?