Add, format, or delete captions in Word

Question

You can add captions to figures, equations, or other objects. A caption is a numbered label, such as "Figure 1", that you can add to a figure, a table, an equation and good captions, or another object. It's comprised of customizable text ("Figure", "Table", "Equation" or something else that you type) followed by an ordered number or letter ("1, 2, 3..." or "a, b, c..." typically) which can be optionally followed by some additional, descriptive, text if you like.

1. Text that you select or create.
2. Number that Word inserts for you

If you later add, delete, or move captions, you can easily update the caption numbers all at once.

You can also use those captions to create a table of the captioned items for example, a table of figures or a table of equations.