1.

1). Only III2). Only II3). Only I4). Both I and II

Answer»

The ERROR lies in part I which uses "will have been" that is future perfect continuous, and it does not fit in with the given context as the GALA is to happen in future. Therefore, simple future tense, "will be" is the correction.

Correct sentence:

The gala will be one of the LEADING events in the CITY during the upcoming year.



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