A Virtual Script can only work inside its Virtual Directory, but a real perl script works anywhere!

But seriously, if you're talking about a CGI which you're calling from a virtual host configuration section, and you want to know whether the script can access the rest of the filesystem... (I'm guessing here), then the answer is:

Yes. With the normal restrictions of permissions, meaning the script can only go places that the user that is running the script can go, which means whatever user the webserver is running as.