"recognizes a single processor" -
if it's system with good multiprocessor (MP) hardware and one CPU installed, then yes,
all is well.
If it's a system with ++ungood MP hardware and two CPUs installed, then
all may be well.
If it's a system with one CPU and the kernel probes and finds no MP hardware, then
all is well.
If it's a 1-CPU system and the kernel thinks it's got MP hardware, then: who knows?
There are a few more possibilities, but I think you've got the idea by now.
The first step in troubleshooting an MP system is to boot a UP kernel.