This article is from the CD-Recordable FAQ, by Andy McFadden (firstname.lastname@example.org) with numerous contributions by others.
Yes and no. The process can be a bit more involved than that, and requires
software that (usually) comes bundled with the drive.
With "packet writing" software, and a recorder that supports it, you can
treat a CD-R or CD-RW disc like a floppy. On a CD-R you can only write to
each part of the disc once, so deleting files doesn't free up any space.
There are other limitations as well.
With more traditional software -- necessary if you want broad compatibility
-- you usually end up writing everything to the disc all at once.
When you're doing the writing you can't interrupt the drive, and you can't
reclaim the space you've used. If you want to write your files in smaller
bunches, you lose a fair bit of space every time you stop and start again.