What panel allows you to pre-trim footage before placing it into a composition?

The Footage panel serves as the correct choice because it provides various functionalities related specifically to the media files you import into Adobe After Effects. This panel allows users to manage their footage items effectively, enabling actions such as pre-trimming or adjusting the in and out points of a clip before it is used in a composition. This is particularly beneficial when you want to streamline the footage you bring into your composition, ensuring that you only work with the necessary segments of your media.

In contrast, the Project panel is more focused on organizing all assets within the After Effects project, including footage, compositions, and other elements. It does not offer the specific trimming capabilities that the Footage panel provides. The Timeline panel is primarily used for arranging and animating layers within a composition rather than for trimming footage. The Effects panel, on the other hand, is designed for applying and manipulating effects on layers after they have been added to a composition, rather than for managing or trimming the footage itself.

Thus, the Footage panel's dedicated features for pre-trimming footage make it the ideal choice for this particular task.