PDF (adobe.com)

About audio tracks in a sequence

A sequence can contain any combination of the following audio tracks:

Mono (monophonic)
Contains one audio channel.

Stereo
Contains two audio channels (left and right).

5.1
Contains three front audio channels (left, center, and right), two rear or surround audio channels (left and right), and a low‑frequency effects (LFE) audio channel routed to a subwoofer speaker.

You can add or delete tracks at any time. Once a track is created, you can’t change the number of channels it uses. A sequence always contains a master track that controls the combined output for all tracks in the sequence. The master track’s format, the number of audio tracks in a sequence, and the number of channels in the audio tracks is specified in the Tracks panel of the New Sequence dialog box.

A sequence can contain two types of audio tracks. Regular audio tracks contain actual audio. Submix tracks output the combined signals of tracks or sends routed to it. Submix tracks are useful for managing mixes and effects.

Although each sequence is created with the designated number of audio tracks in a Timeline panel, Adobe Premiere Pro automatically creates new audio tracks when you drop an audio clip below the last audio track in a Timeline panel. This feature is useful if the number of audio clips that you’re stacking exceeds the number of available tracks in a sequence, or if the number of channels in an audio clip doesn’t match the number of channels in the default audio tracks. You can also add tracks by right-clicking a track header and choosing Add Tracks, or by choosing Sequence > Add Tracks.

Adobe Premiere Pro creates new audio track to match channel format of clip dragged to Timeline panel.