Step 1: Recall Tresca's yield criterion.
Tresca theory is also known as the
\[
\boxed{\text{Maximum Shear Stress Theory}.}
\]
It states that yielding begins when the maximum shear stress reaches the shear stress at yielding obtained from a uniaxial tensile test.
Step 2: Write the yielding condition.
For a uniaxial tensile test,
\[
\boxed{
\tau_{\max}
=
\frac{\sigma_y}{2},
}
\]
where
\[
\sigma_y
\]
is the yield stress.
Hence,
\[
\boxed{
\text{Maximum shear stress equals half the yield stress.}
}
\]
Therefore,
\[
\boxed{(B)}
\]
is the correct answer.