A new study on DNA replication has revealed intricate details about the mechanisms that govern the fidelity of nucleotide incorporation during DNA synthesis. The research indicates that specific enzymes play critical roles in ensuring high fidelity, primarily through proofreading and exonuclease activity. In addition, it describes how mismatched nucleotides can lead to mutations if not corrected by these enzymes. Of particular interest is the enzyme DNA polymerase III, known for its rapid synthesis rate and its ability to correct errors post-synthesis. Based on this information, which statement accurately reflects the properties and functions of DNA polymerase III during DNA replication?