In the paper we present a survey of some approaches to the semantics of many-valued propositional systems. These approaches are inspired on one hand by classical problems in the investigations of logical aspects of epistemic activity: knowledge and truth, contradictions, beliefs, reliability of data, etc. On the other hand they reflect contemporary concerns of researchers in Artificial Intelligence (and Cognitive Science in general) with inferences drawn from imperfect information, even from total ignorance. We treat the mathematical apparatus that has emerged recently: algebraic structures related to the new logical systems in the same way Boolean algebras correspond to classical logic.