For general purposes you can only have one account on an iPhone at one time. You can change accounts but that is bad practice since ideally you should do all the things in this article between users --> What to do before you sell, give away, or trade in your iPhone or iPad - Apple Support iPhones are not designed to be used by multiple people except when truly selling of giving one away to a new owner.
Finally, you may find that Apple sets a time limit on using certain features between users.
View and remove your devices that are associated with Apple ID purchases - Apple Support - What this is saying is for certain actions such as turning on Match, Apple Music, Family Sharing, automatic downloads, or re-downloading of past purchases there is a 90 day waiting period between associating [using] a computer or mobile device with a new Apple ID . There is no wait for making new purchases.