Step 1: Concept
The nervous system is divided into structural and functional components.
Step 2: Meaning
The Central Nervous System (CNS) consists of the brain and spinal cord. The Peripheral Nervous System (PNS) consists of all nervous tissue outside the CNS.
Step 3: Analysis
Cranial nerves originate from the brain but extend out to the body. Because they are outside the primary "central" axis of the brain/cord tissue itself, they are categorized as part of the PNS.
Step 4: Conclusion
Thus, cranial nerves along with spinal nerves make up the peripheral nervous system.
Final Answer: (B)