YBGLOB IT Solutions India explains how to control the look of text.

Click and drag your pointer over the handle in the upper right corner to expand or reduce the width. Modifying the width of a text block does not distort the actual text within the box. It just rewraps the text within the block, much like what happens when you change margins in a word processing program. You can change a fixed width text block to an extended width text block. To do this, double snaps the text box back to the last character in the block, indicating that the block is now an extended width text block. All objects in flash, including text objects, have properties that can be set and changed. And as with any other object, there are numerous ways you can change the look of your text in flash. The easiest way to control the look of text is to use the properties inspector, which enables you to set or change the font, size, and paragraph attributes, among other things, of new or existing text. In the bottom right of the properties inspector, there is an arrow that expands and contracts the contents of the half of the properties inspector.
The settings in the top portion of the properties inspector are general character attributes and character style settings. On the bottom half, the settings include text block location and position information, a URL link box, and other settings related to dynamic and input text. Some of the text options in the properties inspector will be dimmed if static text is selected as a text type because these options are not applicable to static text. Likewise, other selections are dimmed for both input and dynamic text fields. You used the properties inspector to set attributes on simple graphics. No doubt you are becoming familiar with its functionality. If you recall, the properties inspector is contextual, reflecting attributes of the currently selected object, which in this case is text. So, quite naturally, when you select text the properties relate to that class of object and include such options as size, font, and color.
To set the appearance of text before you input text, select the text tool and then select a font, color, size, style, alignment, spacing, and so on, in the properties inspector. Next, position your pointer on the stage, click and drag to create a fixed width text block and begin typing. The type will reflect the selection you made in the properties inspector. It is that simple to set the characteristics of text. To change the appearance of existing text, select it with the text tool or the selection tool and choose the new attributes in the properties inspector the same way you would for new text. The selected text will change accordingly. Now let’s look more closely at specific text attributes you can set or change in the properties inspector. Some attributes are obvious and don’t need much explanation. For example, to set a font, you simply click the font pop up list and select a font.