What does the L icon mean in Microsoft Word?

For as long as I've used Microsoft Word 2010 (it probably also exists in later versions), whenever selecting an item in a list a black L-like icon appears in the document's ruler:

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Adjusting this icon doesn't seem to actually do anything for me in my current document, and neither does anything happen when I get rid of it by selecting it and dragging down.

What exactly is this icon and what's it for?

2 Answers

That L indicates the Left tab stops. Tab stops include:

Types of tab stops include:

        Left Tab: Left-aligns the text at the tab stop

        Center Tab: Centers the text around the tab stop

        Right Tab: Right-aligns the text at the tab stop

        Decimal Tab: Aligns decimal numbers using the decimal point

        Bar Tab: Draws a vertical line on the document

        First Line Indent: Inserts the indent marker on the ruler and indents the first line of text in         a paragraph

        Hanging Intent: Inserts the hanging indent marker,and indents all lines other than the first         line

3

Word Tabs

Tabs are a paragraph-formatting feature used to align text. When you press the Tab key, Word inserts a tab character and moves the insertion point to the tab setting, called the tab stop. You can set custom tabs or use Word’s default tab settings. -Source

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