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When you paste objects into external programs, the default OLE image size will be as same as current viewport. Thus when you copy objects in model space with only one viewport, it will always keep the same rectangle shape and you may have to cut it in Word.
If you want the image pasted into Word in approximately square shape, there is a fast way to do it: Just use " -VPORTS -> 3 -> R " to setup 3 viewports in model space, and zoom the objects you want to copy in the square shaped viewport, then paste it in Word. (You can copy in any other viewports and the image is still square-shaped)
If you want the image pasted into Word is exactly the size (width/height ratio)you want, you can setup a viewport in paperspace with preferred ratio, then get into the viewport and issue command COPYLINK, then Ctrl+V in Word, it will switch to AutoCAD automatically and ask you to save a temporary file. Click OK. Go back to Word and you will find the image with correct size is there.