In the pedagogy of English language teaching and second language acquisition, mastering the macro-skills of listening and speaking involves understanding their distinct psycholinguistic processes, pragmatic functions, and discoursal features. Consider the following four advanced propositions regarding the role and functions of listening and speaking: I. Transactional speaking functions primarily to establish and maintain social relationships, rapport, and solidarity among interlocutors (such as casual chatting at a social gathering), whereas interactional speaking is strictly message-oriented, focusing on the efficient transaction and exchange of goods, services, or specific factual information. II. Bottom-up processing in listening comprehension requires the listener to decode incoming acoustic-phonetic signals phoneme by phoneme, recognize morphemic boundaries, and construct meaning incrementally from the smallest acoustic units up to larger syntactic and semantic constituents. III. In advanced oral communication tasks, pragmatic and sociolinguistic competence requires learners to adjust their register, tone, honorifics, and turn-taking strategies appropriately based on the social distance, power dynamics, and situational context of the communicative event. IV. Top-down processing in listening involves the listener activating prior background knowledge, contextual schemata, and macro-structural expectations to infer speaker intent, anticipate upcoming thematic trajectories, and resolve ambiguities without relying exclusively on acoustic decoding. Identify the option that correctly evaluates the pedagogical, psycholinguistic, and functional validity of propositions I, II, III, and IV according to standard English language teaching methodology and Listening comprehension principles.