Final answer:
The entry =$B3 will change to =$C5 when copied to a cell one column to the right and two rows down, due to the relative reference of the row number and absolute reference of the column.
Step-by-step explanation:
When a formula containing the entry =$B3 is copied to a cell one column to the right and two rows down, the column part of the cell reference will remain the same, because it is an absolute reference (indicated by the dollar sign). However, since there is no dollar sign before the row number, it is a relative reference and will change based on the relative position to which the formula is moved. Thus, moving one column to the right changes column B to column C, while moving two rows down changes row 3 to row 5. Therefore, the entry in its new location will appear as =$C5.