That's a clearer explanation than the OEM Manual, Bama, thanks.
SFair, I apologize for it seeming as if I was cattail chasing but I first wanted to ensure that all of my charging, running and firing side components were good before getting the bike going so that I wouldn't have to drain the oil and remove left side engine cover and all of that mess associated with checking the major components. The carburetor was addressed and so I wanted to address the other things too. I'd hate to get the thing running only to find out there was a problem with stator, alternator, pickup coil etc. and then have to do all of this backtracking due to the bike not charging or firing correctly. So, there is somewhat of a method to my madness here since the bike is new to me from PO and I don't know the bike's overall condition which I am trying to determine correctly for either keeping it or flipping it. I digress now so back to the topic.
SFair, thanks again and let's finally get some major brain damage on this one. Ready when you are so fire away.