Lacquer or Oil are the most popular finishes for floors.
Lacquer usually comes in a form of polyurethane and creates a seal across the grain of the wood, preventing dirt from getting into the grain of the floor.
Oil sinks into the grain of the wood and gives a more natural appearance, but therefore needs more regular cleaning to ensure no dirt settles in the grain of the floor.
In my opinion, oil is more suited to bedrooms and reception rooms, where there is less likely to be lots of water or chemicals spilled.
Oil is simpler to repair isolated areas if neccesary, without sanding the entire floor. where this is not really possible with lacquer.
Oil is also non grain raising.