The VIEWBASE command is new in AutoCAD 2012. It is used to generate 2D drawings from 3D objects. As shown in the video below, you can create your 3D model in Model Space, then go to the Layout tab and use the Viewbase command to create your Top, Side, Front and Isometric views in 2D - complete with hidden lines.
As of AutoCAD 2013 - this command is not available for the Mac. To get a similar result with AutoCAD for Mac, just create one viewport, then copy it 3 times and change the view inside the viewport. Use the MATCHPROP to copy the scale to each viewport.
This command will be a great time saver and is a huge update over the preview Solview and Soldraw commands. Check it out: