Calculate Trade Receivables Turnover Ratio.

The correct option is 8.18 times.

Understanding the Trade Receivables Turnover Ratio:
The Trade Receivables Turnover Ratio is an efficiency ratio that measures how many times a business collects its average trade receivables balance during a given accounting period. It serves as an indicator of how efficiently an enterprise manages credit extended to customers and collects cash from them.

The formula to calculate the Trade Receivables Turnover Ratio is:

$$\mathrm{Trade\; Receivables\; Turnover\; Ratio}=\frac{\mathrm{Net\; Credit\; Revenue\; from\; Operations}}{\mathrm{Average\; Trade\; Receivables}}$$

Components of the Formula:
1. Net Credit Revenue from Operations (Net Credit Sales): This refers to the credit sales revenue generated by the business, calculated as Gross Credit Sales minus Sales Returns.
2. Average Trade Receivables: This is computed by averaging the opening and closing balances of trade receivables (which include both sundry debtors and bills receivable):

$$\mathrm{Average\; Trade\; Receivables}=\frac{\mathrm{Opening\; Trade\; Receivables}+\mathrm{Closing\; Trade\; Receivables}}{2}$$

Step-by-Step Calculation Walkthrough:
To demonstrate how we arrive at the correct option, let us consider a financial scenario with the following values:
- Net Credit Revenue from Operations = 90,000
- Average Trade Receivables = 11,000

Substituting these values into the turnover formula:

$$\mathrm{Trade\; Receivables\; Turnover\; Ratio}=\frac{90000}{11000}$$

By dividing the numbers, we get:

$$\mathrm{Trade\; Receivables\; Turnover\; Ratio}\approx 8.18$$

Because turnover ratios represent how many times a cycle is completed within a year, the unit is expressed in "times". Thus, the final calculated result is 8.18 times.