Final answer:
The materiality level for the F/S represents the threshold at which financial information becomes significant enough to influence the decisions of users.
Step-by-step explanation:
The materiality level for the F/S as a whole needs to be expressed as a dollar amount or a percentage. This level represents the threshold at which financial information becomes significant enough to influence the decisions of users. It helps users distinguish between information that is important and should be disclosed and information that is immaterial and can be omitted.