Bookmark/Like is a way of showing appreciation to an author, AND saving a LINK to that content on your Profile's "Bookmarks Page." Makes it easy to find "liked" things later!
To see what you've bookmarked, click your Profile Picture/Name on the Toolbar at the top of any page, select Profile Page, then, over on the left, select the Bookmarks/Likes Menu.
Options are "actions" you can take with that post, including: edit, print, report.
BTW: "Reporting" sends a private alert to the Moderator and can include a message.
Here it is in graphic form....