no, the code is executed from top to bottom of the function, one instruction at time.
normally the code is so fast that SEEM executed at the same time (we are talking about 16.000.000 instruction at seconds in arduino)
multitasking on monocpu and monocore system work with this principle
real parallelism can be archived only in multicore/multiprocessor system, using one process or thread per core
if you are simply asking if it will execute the section code of the 2 if, yes if the conditions are true and the if aren't in the else section