Which panel provides the ability to edit both the stroke and fill of an object?

The Color panel is the correct choice because it allows users to edit both the stroke and fill attributes of an object in Adobe Illustrator. When you select an object, this panel displays options for changing the color of the selected object's fill (the interior color) as well as the stroke (the outline color). Users can choose from numerous color models, including RGB, CMYK, and HSB, making it versatile for various design needs.

The Swatches panel primarily provides predefined colors and patterns that can be applied to fills and strokes but does not directly allow for color adjustments. The Transparency panel is focused on managing the opacity of objects and their blending modes, rather than directly altering fill and stroke colors. Lastly, the Brushes panel is used to apply different brush styles to strokes, enabling creative effects, but it does not deal with color selection. Therefore, the Color panel is the most appropriate tool for editing both the stroke and fill of an object.