You can see the current version of Ubuntu by selecting System > About Ubuntu. It's in the second paragraph.
The other method to find your version is a command line method. There are two commands you can use:
cat /etc/issue
or you can use
cat /etc/lsb-release
…and finally to find your kernel version and a few more details about your machine use the uname command which, per the man pages, shows system information. Examples:
uname -a : print all information
uname -r : print the kernel release
uname -v : print the kernel version
uname -o : print the operating system
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