**Explanation:**

The empirical formula of a compound gives the simplest whole number ratio of atoms in the compound. To determine the empirical formula, we need to know the percentage composition of each element present in the compound.

Given that the organic compound contains only carbon (C) and hydrogen (H), and it has 92.3% carbon, we can assume that the remaining 100 - 92.3 = 7.7% is hydrogen.

Now, let's calculate the empirical formula using the given percentage composition:

1. Assume a 100 g sample of the compound.
2. The mass of carbon in the sample is 92.3% of 100 g = 92.3 g.
3. The mass of hydrogen in the sample is 7.7% of 100 g = 7.7 g.

Now, we need to convert the masses of carbon and hydrogen to moles using their respective atomic masses:

- The molar mass of carbon (C) is approximately 12 g/mol.
- The molar mass of hydrogen (H) is approximately 1 g/mol.

1. Moles of carbon = mass of carbon / molar mass of carbon = 92.3 g / 12 g/mol ≈ 7.7 mol.
2. Moles of hydrogen = mass of hydrogen / molar mass of hydrogen = 7.7 g / 1 g/mol = 7.7 mol.

Now, we need to find the simplest whole number ratio of carbon to hydrogen. Since both the moles of carbon and hydrogen are approximately equal (7.7 mol), the simplest ratio is 1:1.

Therefore, the empirical formula of the organic compound is CH, which corresponds to option A.