Order in which filters execute

I would like to understand the order in which filters are executed. Do they execute in the order listed in the rules box? How does the “stop processing rules” option in a rule work? In other words, does selecting this option prevent the execution of any rules listed afterwards in the Rules box?

the rules are executed in the same order as they are shown in the Rules section.
‘Stop processing rules’ will prevent execution of the rules listed below it.