Which panel allows you to control your anchor paths and set up motion tracking?

The Layer Panel is the correct choice for controlling anchor paths and setting up motion tracking in Adobe After Effects. This panel is where individual layers in your composition are managed, allowing you to adjust their properties, including anchor points which dictate how transformations like position, rotation, and scale affect a layer.

When you need to perform motion tracking, you typically work with the layer that you want to track. The Layer Panel provides access to essential controls such as keyframes and transform properties, which are critical for establishing movement based on anchor paths. Additionally, any tracking data you generate will be applied to these layers, enabling you to manipulate them based on motion detected in your video footage.

The other panels serve different purposes: the Effects Panel focuses on applying and managing effects; the Timeline Panel primarily organizes your layers in a time-based manner, showing how they interact over the duration of the composition; and the Composition Panel serves as the visual display of your project, but does not provide the detailed control over layer properties that the Layer Panel does. This reinforces why the Layer Panel is the proper context for tasks involving anchor paths and motion tracking.