Does the addressable physical memory range depend on which slots are occupied by the memory?

Does the addressable physical memory range depend on which slots are
occupied by the memory?

Say, I have a 32-bit CPU and 128M RAM, and the motherboard has 4 slots
for plugging the RAM in.

My question is if the following statement is correct:

No matter which of the 4 slots is occupied by the RAM, CPU can always
address the physical address range from 0-128M. In other words, when
CPU reads/writes data from/to the address 0x000000FF, it will always
succeed, no matter which of the 4 slots is occupied by the RAM.

Is this correct? Any help will be appreciated.