This short paper relates the conditional object-based and possibility theory-based approaches for reasoning with conditional statements pervaded with exceptions, to other methods in nonmonotonic reasoning which have been independently proposed: namely, Lehmann's preferential and rational closure entailments which obey normative postulates, the infinitesimal probability approach, and the conditional (modal) logics-based approach. All these methods are shown to be equivalent with respect to their capabilities for reasoning with conditional knowledge although they are based on different modeling frameworks. It thus provides a unified understanding of nonmonotonic consequence relations. More particularly, conditional objects, a purely qualitative counterpart to conditional probabilities, offer a very simple semantics, based on a 3-valued calculus, for the preferential entailment, while in the purely ordinal setting of possibility theory both the preferential and the rational closure entailments can be represented.