What effect does the buoyant force have on a submerged object?

It causes a net force acting upward on the object.

It causes the object to sink in a fluid.

It causes the object to float in a fluid.

It causes a net force acting downward on the object.

The buoyant force is an upward force on an object submerged in a fluid. It is the resultant of the pressure force on the surface of the object. The buoyant force may be larger than the weight of the object causing it to accelerate upwards.

Conclusion:

The weight of the water displaced by the object is subtracted from the actual weigh of the object (out of water), leaving the object with a net positive weight while submerged.