The Gypsum Association has published a description of the different levels of finish with a technical step-by-step on how to achieve each standard. You can find it here.
However, drywall finishes are somewhat subjective depending on lighting, paint application, texture thickness, the discerning eye, and other factors. ADCO/Grier takes great pride in providing a finished product that looks good, that we can be proud of, and that people will enjoy looking at in their homes. We provide thorough quality control and punch list services that strive to meet or exceed owner expectations for quality finishes. We will always finish one or two mockup units before moving forward with production finishing so that standards are set, adjustments can be made, and everyone agrees on the final product.