Are mixer inserts used sequentially in a signal chain?

Hello,

If you let's say want to use an eq on insert A and a reverb of insert B, does it matter which plugin goes on which insert number? I am assuming that the signal is chained chronologically (or should I say alphabetically) as that the signal FIRST passes through insert A, THEN passes through insert B meaning that the signal would be eq'ed and THEN the equalized signal would run through the verb?

Cheers!