Hi
kwang2311First- Please do not mention the OA in the question itself. It kicks out the 'kick' in solving the question!You may post your question in a separate post.
Second-Please underline the error. It makes life little easier for all of us.
So,Let's solve this by POE.
Never before had the e-business industry
faced as many financial losses and employee cutbacks as they had in the late 1990s.
a.faced as many financial losses and employee cutbacks as
they had - They(plural) refers to e-business industry (which is singular).
also, "faced as many blah blah as the had (faced) in the late 1990's"--Change of tense (to perfect past) is not required.
b.
had to face as many financial losses and employee cutbacks as it
has to
Change of tense-not good.
c.faced the financial losses and employee cutbacks that
they had faced
Change of tense-not good again
usage of "they"
d.
had to face as many financial losses and employee cutbacks asas what??
incomplete sentence.
"...........had to face as many blah blah as
it did in 1990's." would be more appropriate.
e.faced as many financial losses and employee cutbacks as it faced
perfect!
.......faced as many blah blah as it faced blah blah"
Both simple past tense.