Is this sentence correct? "For my party tonight, I need: chips, salsa, and a cake."

The sentence presented is not punctuated correctly due to the use of the colon. Colons are typically employed to introduce a list only when a complete sentence precedes them. In this case, the phrase "For my party tonight, I need" does not stand alone as a complete sentence. Thus, the correct choice highlights that a complete thought is necessary before employing a colon for it to be grammatically acceptable.

While commas can be used within a list, they do not relate directly to the context here since the problem lies more specifically with the colon's usage rather than the list format itself. Understanding this punctuation rule can help enhance sentence clarity and correctness in writing.