Yes, that’s why they’re designed that way, to be compatible both ways.
Same goes for mono jacks in stereo socket and vice versa.
The only problem was over 10 years ago when there were two standards of TRRS, with one of the two connections swapped (so maybe the other one was TRSR or something, I don’t remember anymore). So if you used earphones with the other standard, they’d only play sound when you pressed down the button. That thing has been looong abandoned tho, and I think Sony Ericsson was the only major brand using them anyway.