在处理链接服务器时,连接在哪里处理?

在从SQL Server到的示例中 join tables from a linked server ,它给出以下示例:

SELECT local.name AS LocalLogins, linked.name AS LinkedLogins  
FROM master.sys.server_principals AS local  
LEFT JOIN [SRVR002\ACCTG].master.sys.server_principals AS linked  
     ON local.name = linked.name;  
GO  

数据是如何在两个服务器之间来回传递的,处理在哪里进行?例如,SQLServer是否运行以下步骤:

1. 做 SELECT linked.name FROM [SRVR002\ACCTG].master.sys.server_principals
2. 通过网络将数据发送回本地/主SQLServer,例如,将其加载到tmp表中。
3. 在本地完成查询,例如:

SELECT local.name AS LocalLogins, linked.name AS LinkedLogins  
FROM master.sys.server_principals AS local  
LEFT JOIN tmp AS linked ON local.name = linked.name;  

或者查询实际上是如何执行的?