Please answer the following as true or false.

1. Retainage does not impact the project level cash flow, because most of the retainer is just profits.

2.Though common with GMP, or lump-sum contracts, retainage is not as common for costs-plus contracts.

3. The schedule of values is a communication tool between the contractor and the owner, and generally becomes part of the contract.

Group of answer choices

4. The schedule of values can be used by the owner to establish pricing for additive and deductive change orders.

5. The schedule of values is essentially a summary of construction activities and the dollar value of those activities.

6. The contractor does not always include their fee, markup, or general conditions in the schedule of values. Instead, they may choose to pro-rate those items and embed them into other construction activities.