Relationship between bulk data and update data

Say I have Prod195_3882.txt, bulk file. Would this be the equivalent of applying the following update files to the previous bulk file:

  • Prod198_3880, Prod198_3881 AND Prod198_3882

or would it just be

  • Prod198_3880, Prod198_3881

Please clarify where Prod198_3882 goes.