Simple answer to your question is it depends.
There are two standards for RCA. Single ended RCA which uses one wire for signal (the inside pin) and usually is shielded (the outside ring) but the shield is not required for functionality.
The second standard is Differential input RCA which is balanced like XLR and uses two wires to send signal on wire one and inverted signal on wire two. No shield is used.
Both cables will work on any equipment but generally, you will get better results using the correct cable with each standard.