Sort of, yes. Think of DC as a waterfall and AC as a oscillating transfer of energy.
Someone else said it better though: Direct current is like a chainsaw - the sharp bits travel in one direction doing work (slicing wood) and then return to their original location. The motion of the chain is constant. ... Alternating current is like a hand saw - the sharp bits travel in one direction, then briefly stop, then travel in the opposite direction.
In end both transfer energy. Like so:http://stream1.gifsoup.com/view6/3719324/ac-vs-dc-o.gif