slouw, you need to know the difference between a
word processor like Microsoft Word for
composition,
editing,
formatting,
printing of
document files and a
text editor like UltraEdit for
composition,
editing,
printing of
plain text files.
Document files contain not visible formatting data which define how the text is displayed and printed. Formatting data are font, font size, font style (regular, bold, italic, bold and italic), foreground and background color, bulleted list, numbered list, table, text box, borders, ... Plain text files contain just text, nothing else. All bytes in a plain text file define a character. But bytes in a document file can represent a character or a formatting information. Formatting is not supported by text editors as it is not possible to store in a plain text file formatting data.
Most users think that there is 1 clipboard which all applications support. But that is not true. In real there are multiple clipboards supporting different formats, see the MSDN article
Clipboard Formats. So with selecting a block in Microsoft Word and pressing Ctrl+C, Word copies the block to clipboard in various supported formats. It copies the block in a self-defined format supported only by other Microsoft products or just other applications of same Office suite. It copies the block additionally in HTML and in RTF format for those applications supporting pasting from clipboard in HTML or RTF. And Word copies the block also as Unicode and as ANSI text to clipboard.
A text editor like UltraEdit supports multiple clipboard formats. There are of course supported the plain ANSI (CF_TEXT) and Unicode (CF_UNICODETEXT) text formats. But by using
Edit - Paste Special - HTML Source or
Edit - Paste Special - Raw RTF it is also possible to get pasted into a new file what Microsoft Word copied to clipboard in format HTML and in format RTF. So with one Ctrl+C in MS Word, you can paste at least 4 different versions into 4 different plain text files: Unicode text file, ANSI text file, HTML file, RTF file. The block pasted into a Unicode and into an ANSI file can look identical, but can also differ depending on which characters the text in Word document contains. Unicode characters not available in used ANSI code page are somehow replayed by other characters. The Unicode standard defines the rules for this conversion.
So the block with bulleted lists you have selected and copied to clipboard was by Microsoft Word already converted into a plain text format using Unicode encoding and ANSI encoding with using the code page as defined in Windows region and language settings for non Unicode aware applications. And either the Unicode or the ANSI version of the block in clipboard is inserted into active plain text file by pressing in UltraEdit Ctrl+V depending on encoding used by the active plain text file.