Order of rules for automatic tag?

I have multiple rules for automatic tags. One of the rules matches drives between "any" and "any". As a catch all. But this also implies it will match all drives, just like at least one other rule.

Am I correct in guessing that the last rule that match will be the tag?

An alternative would be that the first rule matching will also stop the search.

In both cases, changing the order of rules is interesting, but most important is to understand how it works :-)