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Daagh,

We can also use "as X as Y" in the negative sense. "BG is not as benevolent as WB". "I am not as tall as him".

Given that I do think that the statement is correct - "REVIVING LG Electronics is not nearly as daunting a task as reviving North Korea".
I agree that the usage of "TASK" is optional and am pretty sure GMAT will not give 2 such choices.



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