How are win32 executable resources handled?

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I don't know why it's so difficult to find the answer to this question on Google, but I want to set something straight.

Are win32 resources handled in the same way static data is where that data is kept in the RAM for the entire runtime of a process, or are they kept on disk like a regular file until loaded into memory? Functions like LoadResource / LoadString imply the latter, but I want to be absolutely sure I'm not being fooled by abstraction.

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