What is the current view of cognitive psychology on how humans interpret information and construct memories?

Humans interpret information based on their previous knowledge (personal schemas) and thus construct their memories.
Memories contain more and less than lived facts: more because there is a work of structuring and interpretation; less because of the selection of relevant facts and the elimination of what does not interest us.
Memory is an articulated set of systems, processes, and levels of analysis.
a) Only I is correct.
b) Only II is correct.
c) Only III is correct.
d) I, II, and III are correct.