The surface area $A$ of a cube is expressed by the formula $A = 6x^2$, where $x$ represents the edge length. The rate of change of the surface area with respect to time is: \[ \frac{dA}{dt} = 12x \frac{dx}{dt} \] With a given rate of change of edge length $\frac{dx}{dt} = 5$ cm/s and an edge length $x = 2$ cm, substitution yields: \[ \frac{dA}{dt} = 12(2)(5) = 120 \, \text{cm}^2/\text{s} \] Thus, option $(B)$ is the correct answer.