Difference bw Multiple Liab Immun and Cash Flow Imm – confused

Hello,

In Multiple Liab immunization – each existing portfolio cash flow stream is set off against the maturing liabilities to be paid and
in cash flow immun. you buy a bond that matches the last maturing liab. – with the 2nd last liab’s value reduced by coupons from first bond – and so on is this correct ?

Thanks v much