That's right.

An electrician or electrical engineer will tell you surprisingly enough that a wire of "x" AWG will handle "z" amps - as long as the insulation and application are rated for the temperature and the voltage drop is tolerable in the application. The absolute limit is the fusing current rating of a particular wire.

In lighting applications, it is the voltage drop that motivates the advice to go with 14AWG or better for each headlight bulb.