What is Colorsync Utilities Term For Photoshop's Convert Function

I got used to using photoshop on a school lab computer but don't have it here at home. In colorsync utility the terms appear to be the same in regards to assigning a profile but there is no option to convert as used in photoshop. The two options provided in colorsync utility are match to profile and apply profile. I want to know which one provides the same function as photoshop's convert and also curious to know what the third option does and how it is different?