Final answer:
Excel will return cells that meet both criteria when using a SUMIFS formula.
Step-by-step explanation:
A SUMIFS formula in Excel allows you to set multiple criteria to filter and sum data from a range of cells. By default, Excel will return cells that meet all of the specified criteria. For example, if you have criteria A and criteria B, Excel will only return cells that meet both criteria A and B. This is option 1: only cells meeting both criteria.