Execution follows: MAIN-PAR calls INIT-PAR (A, B, then PERFORM READ-X executes X), then PERFORM LOOP-PAR (but LOOP-PAR is never defined, so this might be an error - however READ-X contains X so X executes again), then PERFORM TERM-PAR (G, H), then STOP RUN (Z). Sequence: A, B, X, X, G, H, Z. However option C shows A B X Z G H X which seems inconsistent. Let me re-examine - the LOOP-PAR is never called from INIT-PAR since it only says PERFORM READ-X. So after INIT-PAR completes (A,B,X), control returns to MAIN-PAR which then does Z (PERFORM LOOP-PAR) but LOOP-PAR isn't shown... actually the option might be assuming simplified flow.