Final answer:
The given code counts the number of elements in the 'list' array that are less than the value stored in 'temp'.
Step-by-step explanation:
The given code is a loop that iterates through an array of integer values called 'list'. It compares each value in the 'list' array with a previously initialized integer value called 'temp'. If the value at index j in the 'list' array is less than the value of 'temp', a counter 'c' is incremented. So, the code counts the number of elements in the 'list' array that are less than the value stored in 'temp'.