The statement that best describes the effect of the applied force is:
1. The force will cause a change in the momentum of the object.
This is because a net force applied to an object will result in a change in the object's momentum, which encompasses changes in both speed and direction. While forces can lead to increases or decreases in speed and can change direction, the overarching concept is that any net force will result in a change in momentum according to Newton's second law of motion (\(F = ma\)).