Yes, I'd suggest using a multiselect list box for that purpose. You can loop through the collection, and check the Selected property to see if an item is selected. If it is selected, you would set the flag, which I presume is a field in the table? The Listcount property contains the number of items in the list, so you would loop from 0 to listcount - 1
Example:
Assume that your list box is named lstExample, the table is named tblExample, and the field in the table that contains the flag is named fldFlag.
Dim i as Integer
Dim db as DAO.Database
Dim rs as DAO.Recordset
Set db = CurrentDb
Set rs = db.OpenRecordset ("tblExample", dbOpenDynaset, dbReadOnly)
For i = 0 To lstExample.Listcount - 1
If lstExample.Selected(i) = True Then
rs.FindFirst <expression that identifies the record to look for>
If rs.NoMatch = "False" Then
rs.Edit
rs!fldFlag = True
rs.Update
Else
MsgBox "Record not found." ' We shouldn't get here.
End If
End If
Next
rs.close
db.close
dz