It has copy/paste for files, but you can't "cut" a file. This is a continual source of frustration for Windows power users who come to the side with cookies. My guess is Apple doesn't think "cutting" a file makes sense: you are actually moving the file or deleting the file. However, why it would suddenly make sense to "copy" but not actually have "copy" do anything is still confusing to me.

The menus have cut, but I have never figured out how to use it.