Which of the following best describes the term "equipment costs"?

The term "equipment costs" is best described as tangible costs associated with project completion. This definition highlights that equipment costs refer specifically to the expenditures necessary for acquiring or maintaining physical assets, such as machinery, tools, and devices needed for a project.

In the context of a project, these costs are essential because they often directly affect the ability to execute tasks efficiently and effectively. Understanding equipment costs is critical for budgeting, as it ensures that all necessary resources are accounted for in the project's financial planning. This allows project managers to allocate funds appropriately and avoid unexpected shortfalls that could hinder progress.

The other choices reflect different types of costs that do not specifically align with the definition of equipment costs. Employee salaries are labor costs, marketing expenses relate to promotional activities, and expenses not covered by the budget are generally considered unexpected costs rather than specific to equipment. This makes the second choice the most accurate description of equipment costs in a project management context.