Final answer:
The result of the CONCATENATE function combining "12" and "34" is the text string "1234"; the CONCATENATE function merges text strings, not performing any numerical calculations.
Step-by-step explanation:
The result of the formula =CONCATENATE("12", "34") is 1234. The CONCATENATE function in Excel joins two or more text strings into one string.
When the function is applied to "12" and "34", it simply puts them together without any arithmetic operation, resulting in the text string "1234".
It is important to recognize that the result is a string of text, not a numerical value that can be directly used in mathematical operations.