Yes, that is correct. You can also put aliases for cheats in there- so that you can type an abbreviation instead of a full cheat (it takes a long time to type some of the cheats in full). But be careful- if you put cheats which are not suitable in the userstartup.cheat file- for example moveobjects on- then everything after that line will be ignored. You'd need to alias that instead. So if your userstartup only partially works, this may be why. Here is an example, from my userstartup file:
boolProp allow45degreeAngleOfRotation true
floatProp tvVolume 0.4
intprop maxnumofvisitingsims 10
boolprop dontMergeNHFlora false
SetHighestAllowedLevel 15
alias 4 "motherlode"
alias 1 "kaching"
alias mon "moveObjects on"
alias mof "moveObjects off"
alias snf "boolProp snapObjectsToGrid false"
alias snt "boolProp snapObjectsToGrid true"
alias floorf "boolprop constrainFloorElevation false"
alias floort "boolprop constrainFloorElevation true"
alias boot "boolprop testingcheatsenabled true"
alias boof "boolprop testingcheatsenabled false"
alias petson "boolprop controlpets on"
alias petsoff "boolprop controlpets off"
alias pacton "boolprop petactioncancel true"
alias pactoff "boolprop petactioncancel false"
alias dormon "boolprop dormspecifictoolsdisabled true"
alias dormoff "boolprop dormspecifictoolsdisabled false"
alias plumbon "plumbbobtoggle on"
alias plumboff "plumbbobtoggle off"
alias bubon "showheadlines on"
alias buboff "showheadlines off"
alias rsa "roofslopeangle"
alias irsa "individualroofslopeangle"
alias ff "familyfunds"
alias bugon "bugjartimedecay on"
alias bugoff "bugjartimedecay off"
alias modon "modifyneighborhoodterrain on"
alias modoff "modifyneighborhoodterrain off"
alias aptsubon "boolprop aptsublotspecifictoolsdisabled false"
alias aptsubof "boolprop aptsublotspecifictoolsdisabled true"
alias aptbason "boolprop aptbaselotspecifictoolsdisabled false"
alias aptbasof "boolprop aptbaselotspecifictoolsdisabled true"
alias apton "boolprop apartmentbuildbuyrestrictions false"
alias aptof "boolprop apartmentbuildbuyrestrictions true"
So, for example, instead of typing boolprop testingcheatsenabled true I can just type boot. And instead of typing familyfunds smith 20000, I can now type ff smith 200000.
Many of these are not available if you do not have certain EPs- check the readme files for each EP to see which cheats will work.