You can always use Undo, but you may want to remove an image without undoing all of the changes you made after you added it. You can also move an image to another location on the report.

To delete an image

Click the image to reveal the selection box.
On your keyboard, press the Delete button. The image is removed.

To move an image

Click the image to reveal the selection box.
Hold the cursor over an edge of the image that is not a grab handle (somewhere between the corner grab handle and the center grab handle). The cursor becomes a four-way arrow.
Click and drag the image and drop it in the new location. Snap lines show you when the image is aligned with other controls.