The short answer is: yes.
The longer answer is:
If this is a channel culvert crossing then RAS will compute internal boundary curves. For negative flow, RAS will use the same curve. So the entrance and exit loss are handled correctly (as long as the inlet and the outlet have the same shape). However, if the culvert inlet is much higher than the culvert outlet, this isn’t being modeled as accurately as it could be.
If the culvert is part of a lateral structure then it computes the culvert flow every time step (does not create curves), and I think it handles it correctly including the invert at the inlet and outlet.
If you wanted more control over it, I suppose you could compute the culvert hydraulics outside of RAS and then use either the user defined gate curves or the Advance Rule Operations to get those results into RAS.