v. phr. , slang 1. To take the first prize; be the best; rank first. Mr. Jones takes the cake as a storyteller. 2. To be the limit; to be the worst; have a lot of nerve; be a very rude, bold, or surprising action. I let Jack borrow my baseball and he never gave it back. Doesn't that take the cake? For being absent-minded, Mr. Smith takes the cake.
Compare: BEAT ALL.