Just wondering, how would do multiple ifs work in each other?

1 If x = 10
2 While Now = Now
3 Text1.Text = Text1.Text + 1
4 If text1.text = 56 then
5 msgbox "56"
6 end if
7 end if
8 Wend

Will 1 correspond with 6 or 7? will 4 correspond with 6 or 7?
this is what confuses me, this is a really crappy example so ignore it.