Acetate fabric drapes very well and resists the absorption of liquids.  It also tends to dry very quickly when wet.  Acetate can be either dull or very lustrous or anywhere in between, depending on the manufacturing and coloring processes.  Due to these qualities, acetate blends are very useful in furniture upholstery, drapes, and bedspreads. 

One thing to watch out for when you are around furniture or clothing containing acetate is the fact that contact with acetone will actually dissolve acetate fabric.  This is because the acetate manufacturing process makes use of acetone to hold the pulp together as a cohesive fabric.  The biggest danger to acetate fabric is nail polish remover which contains acetone.  Remember to keep this liquid away from acetate fabric at all times.  Acetate is also heat-sensitive, so it is essential to protect it from heat sources such as irons.

For the most part, acetate is not a fabric that is used often in furniture on its own. 

However, it can be combined with other fibers to create fabrics called moiré fabrics.  The combining of acetate with other types of fabrics means that its negative aspects are reduced while its durability is seen as an asset.

Cleaning fabrics that contain acetate may be a trick proposition, mostly because the cleaning process depends on the other fibers in the moiré fabric.  You will need to know the care instructions for the other types of fabrics in the blend before you can be sure that any certain cleaning method is safe.  If you are in doubt, simply test the cleaner on a small and inconspicuous corner of the fabric to see if it causes any damage.