Yes, the 'noun' present is a common noun, a general word for a gift, or a general word for the current period of time; a word for any present.
The word present is also:
A proper noun is the name or title of a person, place, or thing; for example:
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Yes, "present" can be both a common noun and a verb. As a noun, it refers to a gift or something that is given to someone.
No, "looking" is not a common noun. It is a present participle verb that can also function as a gerund.
In the sentence, "The boy lost his present.", the noun 'present' is a concrete noun; a word for a gift; a word for a physical thing.The noun 'present' is an abstract noun as a word for the current period of time; a word for time is a word for a concept. (It's not likely that the sentence means that the boy lost his now.)
"Later" is a common noun. It refers to a point in time that follows the present moment.
The word 'loafs' is not a noun. The word 'loafs' is the third person, singular, present of the verb to loaf (to spend time idly).Example: After finishing a chore, dad loafs on the patio sipping a beer.The noun 'loaf' is a singular common noun. The plural common noun is loaves.Example: While dad loafs on the patio, mom is baking two loaves of bread in the oven.
The noun form of "to be present" is presence. It refers to the state of being in a particular place or situation.