You can insert images, but you can't "bind" it to the drawing. If the image is moved, ACAD will search the "Support File Search Path". If it isn't found in the search path, you will get the image-frame without the image. If you know the location of the image: enter "image" at the command line > select the image > at the bottom of the dialog box, browse for the image and then click "save path".
Flores