What about where the Bible says there are many Lords and Gods?

What about where the Bible says there are many Lords and Gods?

     The Bible teaches us that there is only one God and all existence (Isaiah 43:10; 44:6,8).  Nevertheless, there are many cult groups who claim that there are more than one God.  Mormonism, for example, teaches that there are many Gods and that it is possible for people to become gods of their own worlds.  One of the versus they use to support their view is found in (1 Cor. 8:5-6).  It says,

• "For even if there are so-called gods whether in heaven or on earth, as indeed there are many gods and many lords, ⁶yet for us there is but one God, the Father, from whom are all things, and we exist for Him; and one Lord, Jesus Christ, by whom are all things, and we exist through Him,"  (1 Cor. 8:5-6, NASB).
• "For even if there are so-called gods, whether in heaven or on earth (as indeed there are many "gods" and many "lords"), ⁶yet for us there is but one God, the Father, from whom all things came and for whom we live; and there is but one Lord, Jesus Christ, through whom all things came and through whom we live," (1 Cor. 8:5-6, NIV).

     The key to understanding this scripture is the term "so-called."  Paul is teaching us that there are not many gods.  Rather, he is teaching us that there are many that are "called" gods but are not really gods.  We can see this elsewhere when Paul says in Gal. 4:8, "Formerly, when you did not know God, you were slaves to those who by nature are not gods."  We can see that the Bible teaches that there is only one God, yet people believe in other gods.  In reality these other gods do not exist.