please answer these 8 mcqs im uploading nthis second time please do these 8 mcqs otherwise i rate it accordingly

SECTION Write ONLY the alphabet (A, B, C, D or E) that corresponds to the correct option in each of the following questions/statements: 1. Which of the following is NOT correct about the definition of assets? A. Resources which an entity must control B. Resources which an entity must own C. Resources which are expected to bring future benefits to an entity D. Resources that their costs can be reliably measured E. Resources for which liabilities arise from past events 2. Inventories are recognised at the net realisable value when this is lower than the cost price in other to satisfy the ........... principle A. Matching B. Prudence C. Accrual D. Periodicity E. Realisation 3. Which of the following is checked against a waybill to ensure that the goods ordered are the ones supplied? A. Good received note B. Purchase invoice C. Purchase order D. Store Issue voucher E. Delivery note 4. Which of the following is CORRECT in respect of cash discount? A. Discount allowed is a deduction from trade payables B. Discount received is a deduction from sales C. Discount columns in cash book form part of the double entry D. The total amount of discount on the debit side of cash book is an income E. The total amount of discount on the credit side of cash book is discount received 5. A credit sale of Rs257,000 was recorded in the day book as Rs 275,000. The effect is that A. Assets, liabilities and equity are understated B. Assets, liabilities and equity are overstated C. Assets and liabilities are overstated; no effect on equity D. Assets and equity are overstated; no effect on liabilities E. Equity and liabilities are understated; no effect on assets 6. Which of the following is the effect of a reduction in allowances for doubtful receivables? A. A reduction in gross profit B. A reduction in profit for the period C. A reduction in cash balance D. Increase in profit for the period E. Increase in cash balance 7. The bank balance in the books of Super on 1 April 2018 was Rs5,000,000 overdraft. The entity made a total payment of Rs13,116,300, the balance at 31 March 2019 was R$8,145,600. How much cash was received by the entity during the year ended 31 March 2019? A. Rs 9,970,700 B. R$ 16,261,900 C. Rs18,116,300 D. Rs21,261,900 E. R$26,261,900 8. An entity purchased an equipment for Rs 20,000. The equipment was transported at N86, installation cost was Rs125, abnormal waste of materials was Rs15,000 and training cost of staff on the use of the machine was N255. How much should be recorded as the initial cost of the equipment? A. R$20,000 B. Rs 20,086 C. Rs 20,125 D. Rs 20,211