Is music in FLAC 24Bit/44,1KHz better than MP3 320kbps? (originally from CD). Thank you?

I use mp3s coz thay are a smaller file but I don't think that the music sound qoulity is that good but it is good for hedpones you don't relly notis a difference but if you are playing music at a big party or something then you might want to look out for a better file format I just use mp3s for like my phone and stuff its what most stuff uses in not shur what flac is but I thing it sounds like a good qwality music file