The nomenclature of a compound in a homologous series is based on the number of carbon atoms in its chain. The parent hydrocarbon’s name indicates the length of the carbon chain. For example, a three-carbon chain is named propane. If a functional group is present, it is indicated in the name with either a prefix or a suffix. The choice of prefix or suffix follows specific rules, and modifications to the carbon chain name may be necessary. The systematic naming approach ensures a standardized and consistent way of identifying compounds within the homologous series based on their structure and composition.