Does the work energy theorem hold if friction acts on an object? Explain your answer.

No, the work-energy theorem does not hold if friction acts on an object.
Work-Energy theorem states that, the net work done by the forces acting on a body is equal to the change in the kinetic energy of the body. In a frictional surface we do not count the part of work which will convert into the friction. The frictional force is in reality quite complicated, involving the making and breaking of many microscopic welds, which deform the surfaces and result in changes in internal energy of the surfaces (which may in part be revealed as an increase in the temperature of the surfaces).So the work done by the force acting on the body is not totally converted into its kinetic energy and that contradicts the work energy theorem. From the above observation we conclude that, the work-energy theorem does not hold if friction acts on an object.