From the The Essential Windows PowerShell Cheat Sheet:
Errors and Debugging: The success or failure status of the last command can be determined by checking $?
Example:
> Get-Content file-that-exists.txt
Hello world
> Write-Host $?
True
> Get-Content file-that-does-not-exist.txt
Get-Content : Cannot find path 'C:\file-that-does-not-exist.txt' because it does not exist.
At line:1 char:1
+ Get-Content file-that-does-not-exist.txt
+ ~~~~~~~~~~~~~~~~~~
+ CategoryInfo : ObjectNotFound: (C:\file-that-does-not-exist.txt:String) [Get-Content], ItemNotFoundException
+ FullyQualifiedErrorId : PathNotFound,Microsoft.PowerShell.Commands.GetContentCommand
> Write-Host $?
False