In the psycholinguistic and functional taxonomy of language development, spoken and listening interactions serve distinct communicative, interpersonal, and transactional macro-functions. Consider the following four advanced propositions regarding the functions of language in listening and speaking: I. Transactional language functions primarily to establish and maintain social relationships, foster solidarity, and manage interpersonal rapport, where the accuracy of the message is secondary to the emotional and social bonding achieved (e.g., casual greetings, friendly small talk, and gossip). II. Interactional language functions primarily to convey propositional information, exchange goods and services, and achieve explicit, real-world outcomes where the successful transfer of referential data and task completion are paramount (e.g., a business negotiation or technical briefing). III. Talk as performance refers to public speaking events that transmit information before an audience in a structured, predictable format akin to written texts, requiring careful attention to form, audience appropriateness, and stylistic register (e.g., academic lectures, public announcements, and formal debates). IV. In second language listening pedagogy, top-down processing involves decoding individual phonemes, lexical units, and morphosyntactic boundaries sequentially before assembling global meaning, whereas bottom-up processing relies on schema activation, contextual expectancies, and prior background knowledge. Identify the option that correctly evaluates the linguistic, functional, and pedagogical validity of propositions I, II, III, and IV according to standard English language teaching methodology and Functions of language principles.