Acetone photo-oxidation in synthetic air under exposure of 311 nm ultraviolet light has been studied, and the photo-oxidation products are identified by means of infrared spectroscopy. Analysis reveals that formic acid is one of the major products, although there have been debates in the past concerning the authenticity of formation of this acid in synthetic air via the photo-oxidation pathway. The quantum yield of formation of this acid is similar to that of other major photoproducts like methanol, formaldehyde, and carbon monoxide. The reaction yield, however, decreases with an increase in total air pressure in the reaction cell, but it is still significant at pressures relevant to tropospheric conditions. A kinetic model has been used to simulate the measured reaction kinetics, and the quantum yields predicted by the model are found to be consistent with the measured yields for different durations of light exposure. The same model has also been used to investigate the effect of atmospheric nitric oxide on the fate of formation of this acid in the troposphere. Although nitric oxide is known to be a quencher of peroxy radicals, the precursors of formaldehyde and formic acid in acetone photo-oxidation, but our model predicts that this oxide plays a positive role in the overall reaction kinetics for production of this acid in the troposphere.