dalefuji,
ON EDIT: Oops, I think I read your post too quickly on my first response.
There should be a breaker for each 120VAC line. Not sure about the inline fuses, they might provide protection for any 12V operated devices on the generator (choke, fuel pump, ?).
~Rick
2005 Georgie Boy Cruise Master 3625 DS on a Workhorse W-22
Rick, Gail, 1 girl (27-Angel since 2008), 1 girl (22), 2 boys (23 & 20).
2001 Honda Odyssey, Demco Aluminator tow bar & tow plate, SMI Silent Partner brake controller.