If you Alt-drag an object onto another object in the Viewer window, a parenting context menu appears with different options depending on the objects involved.
The following are some of the common options available in the Parenting context menu.
Creates a parent-child relationship between the object dragged and the target object(s).
Applies the translation/rotation, translation (X, Y, Z), rotation, and scaling values of the dragged object and the target object(s).
Applies the properties of the dragged object to the target object(s).