Final answer:
Profit planning, also known as profit mapping, is a budgeting process where a business sets financial targets and creates a plan to achieve them.
Step-by-step explanation:
The term 'profit planning' is essentially another way to describe budgeting within the context of a business. The correct alternative term for 'profit planning' is B. Profit mapping. This process involves setting specific financial targets (profit goals) and creating a detailed plan for achieving those targets. It includes forecasting revenues and expenses and then detailing strategic steps to manage both for the desired profit outcome. In simpler terms, the profit is mapped out earlier to see that the business does not fail.