A field is a position on a form that one uses to enter, view, update, or
delete information. A field prompt describes each field by telling what
kind of information appears in the field, or alternatively, what kind of
information should be entered in the field.
A flexfield is an Oracle Applications field made up of segments. Each
segment has an assigned name and a set of valid values. Oracle
Applications uses flexfields to capture information about your
organization. There are two types of flexfields: key flexfields and
descriptive flexfields.