What term refers to an uncommitted but anticipated future transaction?

The term that refers to an uncommitted but anticipated future transaction is "forecast transaction." This concept is important in corporate reporting because it encompasses projected transactions that a company expects to engage in, although they have not yet been formally committed to. Forecast transactions are significant for financial planning and risk management, as they allow organizations to prepare for future cash flows and assess potential impacts on their financial statements.

In contrast, the other options relate to different concepts. A firm commitment indicates a legally binding agreement to carry out a transaction, which does not align with the idea of being uncommitted. Financial risk refers to the potential loss faced by an organization due to various factors affecting its financial health and stability, but it does not specifically pertain to uncommitted transactions. Foreign operations pertain to bi-national or multi-national activities and do not describe anticipated transactions that are not yet committed. Thus, "forecast transaction" is the correct term that captures the essence of an anticipated future transaction without a current commitment.