In general, the answer would be no, simply because of a dimensional mismatch.
Suppose A is an n x m matrix and B is m x r (the first dimension has to be m otherwise AB does not make sense). Then AB is n x r. However, P will be p x n and Q will be q x m, for some numbers p and s (the second coordinate is fixed because the products will have to make sense). All this only works out if p = q = m = r which restricts the validity of the theorem, if it were true, quite a lot.
Oh, and if you do get the dimensions to work out, there is of course the trivial solution P = 0n x m, Q = A.