True/False

1) Retainage is a contractual clause, imposed by the owner. It is an instrument used by the project owner to incentivize the satisfactory completion of the project.

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

3) The process of distributing a higher dollar value to activities which will be completed earlier in the schedule is called,

a) Front End Loading

b) Earnings in Excess of Billings

c) Retainage

d) Retained Earnings