Answer
True.
In fact, the formula $n!$ for the number of permutations is obtained from the Fundamental Counting Principle.
Work Step by Step
First choice: $n$ possibilities.
Second choice: $n-1$ possibilities.
Third choice: $n-2$ possibilities.
...
Last choice: 1 possibility.
Total permutations: $n\times(n-1)\times(n-2)\times...\times1=n!$
