Final answer:
The methodology for setting up objectives is not called SMERF; this is a false statement. SMERF refers to a market segmentation in the hospitality industry, not to an objective-setting methodology. The term 'Methodists' originated from the methodical practices of early followers of the movement.
Step-by-step explanation:
The term SMERF is not a recognized methodology for setting up objectives; rather, it is an acronym commonly used in the hospitality industry that stands for Social, Military, Educational, Religious, and Fraternal groups which are market segments for group sales. Therefore, the statement that the methodology used in setting up objectives is called SMERF is false.
As for the reference to Early Methodists, it is indeed true that they were referred to as Methodists because they were methodical in their practices and worship. Methodism began as a movement within the Church of England in the 18th century, and its followers were characterized by their systematic approach to religious life and personal discipline, which led to the term 'Methodist'.