Do builds update to an app's version on the store ?

Pushing builds to TestFlight is not an issue, but I am confused about getting new builds attached to the current version of the app on the App Store.

Can someone point to documentation to get the app updated?

Would I be correct to state the app version needs to be changed (for example: 1.0 to 1.1) to incorporate the new build?

The documentation I see seems to focus on getting the app pushed the first time, and I can't find an area that discusses updates.

Any guidance would be really helpful.

thanks.