Charge the battery. Voltage should be 12.6 or so.
With meter connected, turn on key, voltage will drop slowly, stay above 12. If it drops drasically, bad battery.
Start bike - watch voltage while cranking, shouldn't drop below 10-11 volts. A drastic drop, and/or doesn't start, bad battery.
Rev engine to 3K, voltage should rise to 14.8 or so and stabilize. If voltage doesn't rise, or goes much above 15, alternator problem.