You use the Appearance panel (Window > Appearance) to view and adjust the appearance attributes for an object, group, or layer. Fills and strokes are listed in stacking order; top to bottom in the panel correlates to front to back in the artwork. Effects are listed from top to bottom in the order in which they are applied to the artwork.
For a video on using the Appearance panel and effects, see www.adobe.com/go/vid0051.
When an item in the Appearance panel contains additional attributes, a triangle appears to the left of the item’s name.
When you select items that contain other items, such as a layer or group, the Appearance panel displays a Contents item.
When you select a text object, the panel displays a Characters item.