The Scrum Guide states that "the Increment is the sum of all the Product Backlog items completed during a Sprint and the value of the increments of all previous Sprints". It also states that "at the end of a Sprint, the new Increment must be 'Done', which means it must be in useable condition and meet the Scrum Team's definition of 'Done'". Therefore, the Scrum Team must deliver a valuable, useful Increment that meets the Definition of Done at the end of a Sprint. The other options are not acceptable, as they do not meet the criteria of being valuable, useful, or done.
Reference:
The Scrum Guide, section 3.4. Increment
Professional Scrum Product Owner I (PSPO I) Learning Path, section 2.1. The Product Owner and the Development Team Professional Scrum Product Owner I (PSPO I) Sample Questions, question 10