Final answer:
A homeobox is a sequence within a homeotic gene that encodes the DNA-binding portion of a transcription factor, crucial for gene regulation during organism development.
Step-by-step explanation:
A homeobox refers to a DNA sequence within a homeotic gene that encodes the DNA-binding portion of a transcription factor. Transcription factors are proteins that bind to specific regions of DNA to either activate or repress the transcription of target genes. The homeobox sequence allows the transcription factor to bind to DNA and is consequently responsible for activating the transcription of genes that are critical for the development of an organism. Therefore, the correct answer is B: a sequence within a homeotic gene that encodes the DNA-binding portion of a transcription factor.