What is the order of evaluation of record ACL?

[Manu4]

What is the order of evaluation or record ACL?

Is it like, 1. Match object against table level ACL rule 

2. Match object against field level ACL rule

(OR)

1. Match object against field level ACL rule

 2. Match object against table level ACL rule 

[Sreeram Nair]

Table ACLs are evaluated from specific to general: Table ACL, Parent Table ACL, Wildcard (*) ACL