The process of analyzing alternative long-term investments and deciding which assets to acquire or sell is known as:

A) Planning and control.
B) Capital budgeting.
C) Variance analysis.
D) Master budgeting.
E) Managerial accounting.

Capital budgeting involves analyzing potential long-term investments and determining which assets to acquire or sell. Planning and control, variance analysis, master budgeting, and managerial accounting are all related to financial management, but do not specifically pertain to the process of analyzing and deciding on long-term investments.