Absolutely!!! That combo is one of my wardrobe mainstays. And I can vouch for our elegant heroine, Deborah, who posted a fab black-and-white combo here last week. It was brilliantly simple, which is exactly why it was also brilliantly elegant!!
I said on her thread, but I think it bears repeating (with apologies to those who've heard me banging on about it :-)): Jackie Kennedy, who was a tremendous influence on me as I grew up, (one of my first memories is of that famous official visit to Paris, when she STUNNED French women - and mesmerized President De Gaulle - with her elegance) wore black and white regularly. She made it her trade-mark in the post-Onassis years. BUT, she also had a golden rule about the combination: "ALWAYS wear black on the top half, white on the bottom, or you might be mistaken for a waitress!" LOL! I don't think anybody could have mistaken HER for a waitress, but for we lesser mortals, it's a great rule to remember. And who can forget all those paparazzi photos of her on the streets of New York practising what she preached?? A great black cashmere turtle-neck in winter, an elegant boat-neck black tee in summer, and a beautifully-fitting pair of white trousers, often linen palazzos or white jeans, with her trademark oversized sunnies, Chanel ballet flats, and, when necessary, a Burberry worn open. It was simple and uncluttered: the hallmark of true elegance!