There are as many different ways to classify furniture finishes as there people to make up the classifications. For furniture, let’s break finishes down into two classes, with subgroups. The two classes being clear and opaque. Clear finishes would include lacquer, shellac, varnish, tung and Danish oil, linseed oil, as well as polyurethane. Opaque finishes would include paint (both oil and latex), as well as some lacquers. Neither of these lists is all inclusive, but it covers the range of what you’ll commonly find on furniture.
Another way to classify finishes is by the way they "set up". Lacquer and shellac set up purely by drying; they do not change chemically. The solvent for either one will dissolve the finish. I sometimes use lacquer thinner as a stripper on pieces finished in lacquer; it’s easier, less hazardous, and more economical. Both of these finishes are also anhydrous; they will absorb water. These white water marks generally can be removed fairly easily (see" Furniture Tips and Tricks", June). Other finishes change chemically when they dry. Paint, when dry, cannot be restored to a useable liquid; neither can polyurethane or varnish.
From: http://ping.fm/AFmnU
Another way to classify finishes is by the way they "set up". Lacquer and shellac set up purely by drying; they do not change chemically. The solvent for either one will dissolve the finish. I sometimes use lacquer thinner as a stripper on pieces finished in lacquer; it’s easier, less hazardous, and more economical. Both of these finishes are also anhydrous; they will absorb water. These white water marks generally can be removed fairly easily (see" Furniture Tips and Tricks", June). Other finishes change chemically when they dry. Paint, when dry, cannot be restored to a useable liquid; neither can polyurethane or varnish.
From: http://ping.fm/AFmnU