Final answer:
Homologous chromosomes possess the same genes in the same order and are the same length. They are inherited from the same parent, but may have different alleles. They play a crucial role in meiosis through replication, synapsis, and crossing over.
Step-by-step explanation:
Homologous chromosomes, also known as matched pairs of chromosomes in a diploid organism, possess the same genes in the same order. They are the same length and have specific nucleotide segments called genes in exactly the same location, or locus. Homologous chromosomes are inherited from the same parent, but they may have different alleles on each chromosome. These chromosomes play a key role in meiosis, where they replicate, synapse, and undergo crossing over, resulting in the shuffling of genetic material from maternal and paternal chromosomes.