Correct Answer: The wonderful performance is being applauded by the audience.

Solution : The second option is the correct answer

.Passive voice is the voice in which the object experiences an action rather than the person that performs the action. Hence, the object in the active sentence becomes the subject in the passive voice.

The structure of a passive voice sentence in this case is, " Singular subject + is being + past participle of the main verb + by followed by the agent of the action".

Therefore, the correct answer is, " The wonderful performance is being applauded by the audience".