It is possible to have a number of things happen, both the psu and mobo maybe faulty but could both still power up. A dead mobo could mean nothing happens same could be said for a dead psu.
The best way to check a psu is to use a psu tester like the one by antec.
To know if a mobo is dead or not for sure you really need to check it with other hardware, at least connect a case speaker and see if you get the correct error beeps.