Problem:

Recenlty I was deploying Sharepoitn 2010 RTM on SQL 2012 and got the below error in the logs file.

An exception of type System.Data.SqlClient.SqlException was thrown.  Additional exception information: Could not find stored procedure 'sp_dboption'.
System.Data.SqlClient.SqlException: Could not find stored procedure 'sp_dboption'.

Solution:

Installed the Service Pack 1 of Sharepoint server before you run the psconfig wiazrd. You can download the SP1 from here. http://support.microsoft.com/kb/2460045