That is a difficult question because it depends on the discipline you are willing to follow. Here is an article on the subject.
support.microsoft.com
Note that that absolutely would not work for Access files (.ACCDB, .ACCDE, etc.) but Excel doesn't share on a LAN very well either. Therefore, sharing via cloud with a little bit of discipline MIGHT work. Strongly emphasize "MIGHT work" because this is a bet I would not take. Excel DOES use Server Message Block which the cloud DOES NOT use, but it might be possible to arrange a schedule or other operational protocol over how and when someone would be permitted to use the workbook over the cloud.