That very much depends on how you understand the issue -- and what is intended. In this case, using a single account for all devices definitly has one big advantage: Managing its apps (installs/uninstalls).
If the devices are defined as "school use only" or even for a single class, same applies to the calendar: all class specific events can be defined here (in the accounts main calendar), so noone can say he forgot to write it down. For personal events, each user can add his/her own calendar easily -- so no problem with this either.
The contacts/address book can be seen the same way: it could hold the classes contacts, plus the teachers (as far as needed/wanted) -- which would make it easier to organize team work. As with calendars, it should be possible for each user to access her/his personal address book additionally (I never tried this, so I cannot tell for sure).
So to summarize: If I didn't mis-interprete your question, the answer should be a clear "Yes". I use multiple Android devices with the same Google account myself, and never had any problems with that.