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The correct step in Setup Assistant for transferring information from an old Mac is "Transfer information." This option specifically refers to the feature within the Setup Assistant that allows users to migrate data, applications, user accounts, and system settings from an existing Mac to a new one.

During the initial setup phase of a new Mac, the Setup Assistant guides users through various options to transfer their data. Selecting "Transfer information" provides a streamlined process for securely moving all relevant data from the old Mac, ensuring a smooth transition and continuity of user experience.

While options like "Restore from Backup," "Transfer Data," and "Time Machine" may seem similar or related, they do not accurately capture the specific wording and context used in the Setup Assistant. "Restore from Backup" typically implies retrieving data from a backup file rather than directly from another Mac. "Transfer Data" is a more general phrase and may not align with the specific terminology used in the Setup Assistant. "Time Machine" refers specifically to the backup tool and does not encompass the concept of transferring data from one Mac to another directly in the context of the Setup Assistant.