What happens if you replace the logic board on an iphone?

I have a Verizon iphone 4s. The logic board is in perfect condition and so is the SIM card, but it is the outer components that are requiring me to get a new phone. I want to just replace the logic board and SIM card from the new phone with my old ones. Is this possible?
And once I receive the new phone, can I just install my original logic board and SIM card or should I try to activate the phone first?

Added (1). Thats how my problem started! I ordered a new front and back glass because i wanted to change it to a fancy color. And when i was trying to place the front screen one of the cables straight tore, so i ordered a new phone. When i get the new phone and if i install the motherboard and sim card (i have both in perfect condition) will it work in the new phone with all of my information and data in there?

If you're keeping the SIM card and the motherboard together, you'll be fine. Things get quirky when you get a motherboard that is still registered under another SIM card/user. Another option would be to order just the front LCD/touch assembly and back cover (for about $50) and just replace those.

http://www.directfix.com/product/IP-2470.html

http://phonepartsusa.com/iPhone-4-4S-LCD-Assembly-High-Grade/verizon-sprint-iphone-4-lcd-digitizer-touch-screen-assembly-black-b0046uqk36?language=en¤cy=USD

They have the other colors also.

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