yes and no.:-). You can upload a word document. Your media folder includes a sub folder "others". If you upload a word document you can drag and drop onto your webside. But: You will not see the text, you will see a word symbol.
Back to your question: You could use word doc or pdf as a download option with additional information on your website. If you want to see exact the same type, you have to type it in again or you make a screenshot of the text and upload the text as jpg.
If you go into the word document you want to copy from you can use the 'copy and paste' function to simply cut a a section from the document and paste into the text box in the web site as you would in word. Do remember to set the size of the text box or you will end up with a tall thin text area.