Step 1: Formula of lens power.
Power of a lens: $P = \dfrac{100}{f \, (\text{cm})} = \dfrac{1}{f \, (\text{m})}$.
Step 2: Combined power of lenses in contact.
\[
P = P_1 + P_2 = +5D + (-3D) = +2D
\]
Step 3: Combined focal length.
\[
f = \frac{1}{P} = \frac{1}{2} \, m = 0.5 \, m
\]
Step 4: Conclusion.
The combined lens acts like a converging lens with $f = 0.5m$ and $P = 2D$.