Which type of rock is typically formed from cooling magma beneath the Earth's surface?

Igneous rock is formed from the cooling and solidification of magma or lava. When magma cools slowly beneath the Earth's surface, it allows for the formation of larger crystals, resulting in coarse-grained textures, which is characteristic of intrusive igneous rocks. This process typically occurs in areas such as batholiths or plutons where the magma is insulated by surrounding rock, allowing it to cool gradually.

In contrast, metamorphic rocks are created from the transformation of existing rocks due to high pressure and temperature over time, not directly from magma. Sedimentary rocks are formed from the accumulation of sediment or organic material through processes like compaction and cementation, rather than from cooled magma. Basalt, while an igneous rock, specifically refers to a type of volcanic rock that forms from lava that cools quickly on the surface, thus not directly aligning with the formation from cooling magma beneath the surface. Therefore, igneous rock is the most accurate answer in this context.