You can create all kinds of tones: static, sine, white noise, pink noise, etc. You can even combine them, using up to sixteen simultaneous tones on the same timeline (although it might get messy).
You can also perform operations in both mono and stereo to get better results or create dual tones. Of course, once you're done, you can save them as WAV files to use again later.
Tone Generator is a particularly useful program for anyone who records podcasts, radio recordings, or special audio files.
Some features are limited in the trial version.