@silverraven0's links give good info and I'll also add that there's also context to how it's applied with comics. Mostly because it's not just picking a font, typing and organizing text but formatting it to a certain style, especially for effects.
I'm always referencing the Sonic the Hedgehog comics but it's probably one of the only "traditional" comics I read. But there's a variety of text placements and specific ways effects are implemented.
Like this is a really basic page but there's clear balance between the artwork and the text so nothing is obstructed
then you've got this panel featuring the (honestly classic) name gag that they do, bold text stylized in a way that reads the characters personalities
and of course you've got sfx text and those are always really varied depending on the sound of something, texture and even volume of the sound
I'll have to apologize if i come off a certain way but i mean no harm as i'm just really passionate about typesetting (odd as it could seem) and while it may seem like a simple job of putting words in a bubble it's got a lot of elements to it. I may not be great at it myself but I do aspire towards being as effective as certain industry pros even if I don't reach that skill level.