Morphological awareness is essential for vocabulary acquisition. Analyze the statements below regarding the word formation processes known as "Back-formation" and "Blending":

I.Back-formation is the process of reducing a word to a shorter version which belongs to a different word class, often by removing a supposed affix, such as forming the verb "to edit" from the noun "editor".
II.Blending involves combining two separate words to produce a single new term that shares the meaning of both, but unlike compounding, parts of the original words are usually deleted, as in "smog" (smoke + fog).
III.Both processes are strictly restricted to informal slang and are not recognized in standard English dictionaries or academic writing, being considered grammatical errors.

Is it correct what is stated in: