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NFHS 5-6-2 "Each quarter or extra period ends when the signal sounds indicating time has expired.
EXCEPTIONS:
...
2. If a held ball or violation occurs so near the expiration of time that the clock is not stopped before time expires, the quarter or extra period ends with the held ball or violation."
Even if I know the exact time that should be left on the clock I am going to let the period end on the jump ball or violation if it's that close. Now if it's a foul, we've got a different story.
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"It is not enough to do your best; you must know what to do, and then do your best." - W. Edwards Deming
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