Though it contains some properties of both polar and nonpolar covalent bonds, acetone is a polar compound. This is because there are no bonds to neutralize the slightly negative carbon-oxygen bond within the compound.
In addition to being a polar compound, acetone is one of the simplest ketone compounds, which is a group of diverse and seemingly unrelated organic compounds. Acetone's simple structure, along with the fact that it is soluble in water as well as other solvents, makes it a highly flexible chemical. It occurs naturally in nature as a metabolic byproduct, but it is most commonly used to manufacture a wide variety of consumer products, ranging from cosmetics to furniture finishes.