Step 1: Identify the structure of the molecule CH3COCH3. It has a carbon (C) atom connected to a carbonyl group (C=O) and two methyl groups (CH3) on either side.
Step 2: Recognize that the carbonyl group (C=O) indicates that this molecule is a ketone because it is located between two carbon atoms.
Step 3: Count the total number of carbon atoms in the molecule. There are three carbon atoms in total.
Step 4: The simplest ketone with three carbon atoms is called acetone.
Step 5: Therefore, the IUPAC name for CH3COCH3 is acetone.