IF you wanted to get technical or dig into which is more correct, CMOS Setup is.
At least according to Comptia, There is a question that may or not may be on your test that may be phrased similarly to this "What is the name of the menu you access to change things such as the date and time" and ACCORDING TO THEM (not me, this is why I said I learned it this way) they say the correct answer to that question is CMOS Setup.
Outside of comptia most people use BIOS Setup, but so long as you know both can be used to describe the same thing, then it doesn't really matter.
Originally posted by dcc
There are still boards out there that have EPROMs, and require a programer to burn the BIOS. These are known as ROM-BIOS.
Oh And ROM means Read only memory, So the EPROM actualy takes the place of ROM so now a days most BIOS are EPROM or EEPROM. IF you can find a motherboard with ROM the you get a cookie. ( My old A+ Class is filled with them -shudders-)