Formatting Simple Lists with Bullets and Numbers
By far, the simplest way to create a bulleted or numbered list is to use one of the many shortcuts for starting and continuing such lists. For example, if you type a number or letter, followed by a period, a space, and then text, Word begins a numbered list, provided that you haven't disabled the options on the AutoFormat As You Type tab in the AutoCorrect dialog box. Dozens of combinations are available.
→ To have Word handle some of the formatting chores for you, see "Automatic Formatting".
Numbering and bulleting are paragraph properties. As such, they're stored in the paragraph mark and travel if the paragraph mark is copied, cut, or pasted. Position the insertion point inside a numbered or bulleted paragraph and press Enter, and the bulleting or numbering is "inherited" by the new paragraph.
Note
AutoNumbered and AutoBulleted lists are slightly different because Word lets you bail out of bulleting or numbering by pressing Enter twice in succession. In other words, if the insertion point is inside a bulleted or numbered paragraph, and the paragraph is empty, when you press Enter, Word removes the bulleting and formatting from both the old and new paragraphs.
Bullets and numbers maintained by Word aren't "real" characters. You can't select them, much less delete or change them. Instead, they are generated automatically by Word, as a consequence of their paragraph formatting.
Many advanced Word users disable Word's AutoBulleting and AutoNumbering feature and apply bullets or numbers to lists by using simple toolbar buttons or—in more complex situations—using the dialog box.
→ AutoFormat driving you crazy? The good news is that you can disable it. See "Disabling AutoFormat Settings".
You can always create a simple bulleted or numbered list by selecting the paragraphs you want to bullet or number, and clicking the Bullets icon or Numbering icon on the Formatting toolbar.
To take advantage of Word's extensive bulleting and numbering options, select the paragraphs you want to bullet or number, and choose Format, Bullets and Numbering (or right- click and choose Bullets and Numbering). You'll get the Bullets and Numbering dialog box shown in Figure 15.16.
Figure 15.16. From simple bullets to complex outline-style numbering schemes, Word has a solid (but far from complete) array of options.
Select from the prebuilt bullet or numbering schemes, or click the Customize button to establish your own.
Tip from 
You can manually construct intricate numbering schemes—often required by law offices—by using the {ListNum} field. For example, you can put together numbering sequences such as IV (31) A, and have the paragraphs renumber themselves when moved. Moreover, if you have a reference to a {ListNum} -generated number ("see paragraph IV (31) A"), and the paragraph is moved and renumbered, the reference changes as well.
→ To learn more about constructing complicated numbering schemes, see "Managing Custom Numeric Sequences".
Consecutive paragraphs need not be numbered consecutively. For example, you could have paragraphs numbered 1, 2, 3, then two paragraphs with no numbering, and pick back up at 4, 5 and so on. To stop the numbering sequence, select the paragraph(s) you don't want to have numbered, choose Format, Bullets and Numbering and, on the Numbered or Outline Numbered tab, click the None box in the upper-left corner. To continue numbering where you last left off, select the first paragraph after the break, and on the Numbered or Outline Numbered tab, click the Continue Previous List button. You can get the same effect by right-clicking on a paragraph and choosing Restart numbering or Continue numbering.
Because bulleting and numbering is a paragraph property, if you place the insertion point inside a bulleted or numbered paragraph and press Enter, the newly created paragraph "inherits" the bulleting or numbering.
It also means that you can move, drag, or rearrange numbered paragraphs at will, and Word renumbers them, on-the-fly, as appropriate.
Tip from 
You can associate numbering with a specific paragraph style, making Word put a sequential number in front of each paragraph formatted with that style. If your chapter headings are formatted with the Heading 1 style, for example, associating numbering with the Heading 1 style automatically generates chapter numbers. To make the association, choose Format, Bullets and Numbering, bring up the Outline Numbered tab, click a numbering style, and then click Customize, More. In the Link Level to Style box, choose the style.