Let us analyze the read and write operations of transactions T1 and T2:
T1: R1(P), R1(Q), W1(Q)
T2: R2(Q), R2(P), W2(P)
Conflicting pairs between T1 and T2 are:
On item $Q$: $R_2(Q)$ and $W_1(Q)$, $W_1(Q)$ and $R_2(Q)$
On item $P$: $R_1(P)$ and $W_2(P)$, $W_2(P)$ and $R_1(P)$
In any non-serial interleaving:
T1 reads P before T2 writes P, creating a dependency edge T1→T2.
Simultaneously, T2 reads Q before T1 writes Q, creating a dependency edge T2→T1.
Because the precedence (serialization) graph contains a cycle (T1→T2 and T2→T1), the resulting schedule is not conflict serializable.
Therefore, option (B) is the correct choice.