Certified Payroll Professional Practice Exam

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Prepare for the Certified Payroll Professional Exam with comprehensive flashcards and multiple choice questions. Each question is accompanied by detailed hints and explanations to aid your understanding. Get ready to ace your Certified Payroll Professional Exam!

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What is the main governing body for electronic payments in the U.S.?

IRS
Federal Trade Commission
NACHA
SEC

The correct answer is: NACHA

NACHA, the National Automated Clearing House Association, is the main governing body for electronic payments in the U.S. NACHA is responsible for the development, administration, and governance of the ACH Network, which facilitates electronic payments such as direct deposit and direct payment. The IRS (Choice A) is the U.S. government agency responsible for tax collection and enforcement. The Federal Trade Commission (Choice B) focuses on consumer protection and preventing anti-competitive business practices. The SEC (Choice D) oversees securities markets and regulates the securities industry.