The Cut/Copy category of the Edit Options dialog box (Edit ® Options, Cut/Copy) defines the attributes of cut and copy areas for the active edit layer for the current session only.
The Cut/Copy category of the Edit Preferences dialog box (Preference ® Options,
Edit, Cut/Copy) defines the attributes of cut and copy areas for future edit layers for the current and future sessions. It does not affect the active edit layer.
specifies what shape the Edit ® Cut and Edit ® Copy commands draw. The options are Box, Polygon, Circle, and Ellipse.
appears in Edit Preferences only. When this check box is cleared, cuts and copies are applied to all displayed layers.