CTRL+B : To make the words bold.
CTRL+I : To italicize the words
CTRL+U: To underline the words
CTRL+DEL: To delete the word on the right of the cursor
CTRL+BACKSPACE: To delete the word on the left of the cursor
CTRL+SHIFT+SPACEBAR: To create equal spacing.
CTRL+C: To copy the selected text
CTRL+X: To cut the selected text
CTRL+V: To paste the copied or cut text.
CTRL+ALT+V: To paste special
CTRL+SHIFT+< : To reduce the font size
CTRL+SHIFT+>: To increase the font size
CTRL+[ : To reduce the font size
CTRL+]: To increase the font size
CTRL+HYPHEN: To create continuous hiphen
CTRL+SPACEBAR: To remove paragraph or character formatting
CTRL+SHIFT+V: To paste the previously used format
CTRL+Z : To undo the last action
CTRL+Y: To redo the last action that was undone.
CTRL+SHIFT+G: To bring the word count dialog box.
CTRL+L: To align text to the left
CTRL+E: To centralize the text
CTRL+R: To alogin the text to the right of the screen.
CTRL+M: To make the paragraph or the selected text in the margin.
CTRL+1: To make the spacing between lines as 1
CTRL+5: To make the spacing between lines as 1.5
CTRL+2: To make the spacing between lines as double
F7: : To check spelling and grammer
SHIFT+F7 : : To show thesaurus options
CTRL+SPACE : To enable/disable auto correct
CTRL+SHIFT+8: To show/hide hidden characters.

short cut keys for ms word