[user104658]

Yes. Ish. You don't literally burn the exact food that you've just consumed, they're still in your belly and not ready for the body to use, but in theory if you burn more stored calories than that meal will be replacing then you won't store any additional fat.

It's also why the myth of "foods that contain a lot of fat make you fat" is not really right. Fat (and sugar) are high energy so it's easy to over-eat fatty / sugary foods, but 1000 calories of pure fat and sugar won't make you put on weight any more than 1000 calories of anything else.