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The answer to this question is defined for the Episcopal Church in particular, and Anglicans more generally, in the sixth of the Thirty Nine Articles [of Religion].
More particularly, the phrase "The Word of the Lord" is used in the service of Holy Communion, and in the offices of Morning and Evening Prayer to denote the conclusion of a reading from the Bible, the beginning of which was denoted by announcing the source of the reading, for example "A reading from the first letter of Paul to the Corinthians". The chapter and verse at which the reading begins may also be specified.