Step 1: Recall the effect of pressure on altimeter readings.
An altimeter measures altitude based on atmospheric pressure.
If the altimeter setting is not updated while flying from a region of
\[
\boxed{\text{high pressure} \rightarrow \text{low pressure},}
\]
the altimeter indicates a higher altitude than the aircraft's true altitude.
Step 2: Apply the aviation rule.
The standard aviation mnemonic is
\[
\boxed{\text{``High to Low, Look Out Below.''}}
\]
This means that when flying from a high-pressure area to a low-pressure area without resetting the altimeter, the aircraft is actually
\[
\boxed{\text{lower than the indicated altitude}.}
\]
Therefore,
\[
\boxed{\text{Lower than the altimeter indicates}}
\]
is the correct answer.
Thus,
\[
\boxed{(B)}
\]
is the correct answer.