What are the rules of 32-bit v 64-bit interoperability?
What's the interoperability of 32-bit software on a 64-bit machine, and vice versa? My new iMac's 64-bit. Does that mean that any 32-bit software apps I acquire won't run on it? And a friend's got what is essentially a 32-bit iMac (a Snow Leopard Mac). Will she ever be able to run any 64-bit software on hers? In short, what are the basic rules of running these two types of software on 32-bit and 64-bit architecture machines?
I thought I read somewhere that, on certain Macs, you can hold down a couple of the keyboard keys during a Restart and the Mac would go into the alternative mode, ie. from 32-bit to 64-bit, or from 64-bit to 32-bit. If this is true, would this mean that if you own a mix of 32-bit and 64-bit software you'd need to keep switching the Mac in order to use it?
iMac (27-inch, Late 2013), OS X Mavericks (10.9.2)