This is the flow of the signal:
Tracks -> Buses -> Main outs
+1
That's the short description.
Tracks (send)-> n..(Bus/out)
(post fader)-> Bus/Out
Bus (send) -> n..(Bus/Out)
(post fader) -> Bus/Out
Out -> driver->Hardware
The big deal is in terminology, and software mixers give you way more rope to hang yourself with than a hardware mixer ever did. Hardware mixers had fixed inputs, inserts, buses, and mains - the architecture and routing capabilities are set in stone. Here in Sonar, there are no fixed limitations. If you want to put reverb on every channel you can certainly do so if you have the horsepower - and skip the bus altogether. A bus is not required, although it's a convenience that makes sense.
Personally, my endpoint is a bus I call Master all other buses may feed another bus, either through a send or post fader to another bus, but eventually the signal all flows to Master. Master feeds a Mains bus and out to the speaker.
When exporting you have a choice of methods. You can choose 'entire mix' which would be from your mains. or you could export buses and select 'Master' (in my case).
Sonar gives you the rope - it's up to you how you use it. There is no routing that is perfect for all, although there are rules of thumb that work as guidelines (but are not mandates).