Dad is right on the level (3)
I believe the answer is:
par
'level' is the definition.
(I have seen 'Accepted level ' mean 'par' so perhaps 'level' could also mean 'par')
'dad is right on' is the wordplay.
'dad' becomes 'pa' (synonyms).
'is right' becomes 'r' (common abbreviation).
'on' is a charade indicator (letters next to each other).
'pa'+'r'='PAR'
'the' is the link.
(Other definitions for par that I've seen before include "What is normal - . . . for the course" , "Average or normal score" , "Rap for being average" , "Standard number of strokes for a golf hole" , "Usual or expected level" .)