Just a little clarification, thanks to some more misleading advertising and purposely mis-naming of finishes many people believe that "water based polyurethane varnish and water based lacquer are just like their counterparts without the smelly solvents. This is not the case they are neither water based nor polyurethane varnish or lacquer. The are acrylic resin glycol based products that are more chemically like thinned paint than varnish or lacquer. I am not saying they are bad products,they are what they are,but don't make the mistake of attributing the characteristics of varnish or lacquer to water borne acrylic.
By the way Mr. Bob Flexner says it much better than I and he is more charitable.