mlady,
Yes, you can use both Access tables and an Oracle database as the back end for an Access front end.
I have done this before and it works well.
One note: you don't really 'link' to Oracle is the same fashion as you would attach an Access table. You write VB code and use ADO to communicate with Oracle. It is possible to do an ODBC link to an Oracle table but in practice the performance is no good and you can't do some typical things with an ODBC linked table.
Good Luck,
RichM