The variable N is initialized as the string `'5'`.
Within the try block, the operation print('WORD' + N, end='#') concatenates the literal string `'WORD'` with the string value of N, which is `'5'`.
This concatenation succeeds because both operands are strings.
Consequently, the string `'WORD5'` is output, followed by the specified terminator character, `#`.
As no exception is raised during the try block's execution, the except block is bypassed.
The finally block executes unconditionally. Therefore, the string `'OVER'` is printed immediately after the try block's output.
The complete output string is `'WORD5#OVER'`.
Based on this analysis, option (B) is identified as the correct choice.