Ternary Operator ( ? : )

Hi,
Just wanted to check with everyone that I am getting the Logic right with the use of the Ternary ? : Operator

isset( $Files ) ? isset( $Directories ) ? __DisplayResults__( $Files, $Directories ) : __DisplayResults__( $Files, NULL ) : isset( $Directories ) ? __DisplayResults__( NULL, $Directories ) : $error = "Neither Directories or Folders are set";

So that should do the same as

            if( isset( $Files ) && isset( $Directories ) ){
                __DisplayResults__( $Files, $Directories );
            } elseif( isset( $Files ) ){
                __DisplayResults__( $Files, NULL );
            } elseif( isset( $Directories ) ){
                __DisplayResults__( NULL, $Directories );
            } else {
                 $error = "Neither Directories or Folders are set"
            }

Thanks