Which toolbar is the following image showing and is found commonly in MS Office Suite?

The correct answer to this question is formatting. This toolbar is important because it provides tools on how the document should be presenting. The formatting toolbar can be enabled by clicking View and then Toolbars. Once the Toolbars submenu loads, Formatting can be selected to enable the toolbar.

There are many options avaliable in this toolbar. Various fonts such as Times New Roman, Arial, and Georgia can be selected. The formatting toolbar also allows for the size and the color of the words to be changed. From here, options such as bold, italics, and underlined can be selected and added to the text.