|Yes, the record may contain image in the "File - Attachment" column. When Display Images is checked, image thumbnail is displayed along with file name.|
The record may refer to the image via "URL/Formula - URL" column. Set Display option to "Image" to render the image instead of a URL text.
You may also store images in the application's resources section and use URL formula to reference this image. Please note that URLRoot() function returns your application's URL and can be used in URL formulas.