Contingent propositions are true in some, but not all, possible circumstances (or possible worlds). Noncontingent propositions, in contrast, are true in all possible circumstances or in none. There is no difference as to the nature of truth for the two classes of propositions, only in the ranges of possibilities in which the propositions are true.

9 Define, Explain, and Provide Examples of Current and Noncurrent Assets, Current and Noncurrent Liabilities, Equity, Revenues, and Expenses . In addition to what you’ve already learned about assets and liabilities, and their potential categories, there are a couple of other points to understand about assets.