In general that is correct..
There might be few app- exceptions that require individual workarounds.
As pointed out already there’s apps that rely on the phone number as ID (as described for signal messenger, incl. workaround) and there might as well be specific apps (like from your insurance, banking or the like) that can only be active on only one phone at a time (for ID-reasons, I know only of one app from an insurance company, but there might be more and maybe you use one of those few apps or you don’t…)
Apart from that, banking apps can be special.