P is the sole shareholder as well as an employee of PQ Accounting Services Incorporated. The corporation concentrates on tax return preparation and preparation of monthly financial statements. P currently owns an interest in a limited partnership in which he expects to generate losses for the next several years. Assuming P transfers the interest in the partnership to the corporation, any losses of the partnership, due to operations, may be used to reduce the corporations taxable income from operations. a. True b. False