Final answer:
Text can indeed be formatted as both bold and italic. You use both tags together in HTML or apply both formatting options in a text editor. It's possible to italicize with different capitalizations, such as having the first word capitalized and the second in lower case.
Step-by-step explanation:
Yes, text can indeed be formatted as both bold and italic. For example, to format a word in bold and italic in HTML, you would use both tags around the text. In a word processor like Microsoft Word, you would simply select the text and apply both formatting options.
If you need to italicize both words, and one of those should be capitalized, you would write, for example, Both words in italics and italicize the first word while keeping the second word in lower case. Being able to apply both bold and italic formats adds emphasis and can convey different connotations in written text, although in this case, we are not using the bold format.