A pencil copy (not necessarily in pencil) is submitted prior to a final/official copy and it is non-binding and subject to change prior to official copy being submitted. It is used when financial summaries are being compiled.
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The letters mean if the pencil is lighter or darker. "B" is in the middle so its kind of like a regular school pencil.
when you do a drawing using only lines
you put different colored pencil fillings in the pencil
a pencil made out of charcoal
The word pencil comes from the Latin word pencillus which means "little tail." Before the pencil, was a quill pen, which is a tail of a quill.