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Alternator
The alternator comes in several varieties depending on which year C4 you have.  Corvettes have a history of problems with the alternator and electrical system faults can frequently be traced to this device.
In 1984, the alternator output amperage was 97 amps maximum load.   In 1985, this was increased to 120 amps and there were three different models of alternator with GM P/N 1049868 being the number for all of them.  If you replace the alternator with a GM unit, you will get the final version.
In 1986, the amperage was dropped back to 105 amps where it remained.
Load Testing
To determine if alternator is working, start the engine and turn on all accessories...radio, all lights, air conditioner...everything.  Select volts on the function select switch panel.  Observe engine RPMs and with your foot securely on the brake, place the automobile in gear and out of gear several times. (For a manual transmission, you will have to lightly load the engine but not to the point where is begins to stall, depress the clutch then load it again several times).
Observe the voltage display and if the indicator is less than 11.5 volts, either the alternator or battery (or possibly both) may be defective.
Ignition System
The ignition system on the 1984-1991 C4 L98 engine Corvette has the ignition coil housed in the distributor cap on the rear of the engine which is connected via a brush arrangement to the rotor. (Later models use the so called Opti-Spark system which has an optical isolator driven distributor and is prone to ingestion of water. This water contamination will prevent operation unless a special kit is installed to eliminate the moisture or unless your C4 is a later model which had the kit installed by the factory.  Repair of the Opti-Spark system is difficult and best left to the pros.  If you wash the engine of a later model (LT1 or later) C4 and it will then not start or starts but will hardly run, you have probably caused the Opti-Spark to ingest water and are looking at a large repair bill). 
If the engine turns over but will not start, you should check for a spark before checking for sufficient fuel flow and pressure. (You should of course first verify that there is fuel in the tank via reference to the fuel gauge).  Note that this troubleshooting order is not because the ignition system is more likely to fail than the fuel system but rather because it is somewhat easier to check and should be eliminated for that reason before moving on to the fuel system.