I am trying to create a security group in which only one specified computer can access a resource on AWS

Question

Lets say we have an ec2 instance, and we only want one ip address to have access to this ec2 instance.

If we create only one security group and place that security group on the ec2, and that security group only has one ip address on the inbound rule.

will it be that only that one IP address can access that ec2 instance?