It could be used in multiple situations
1. Ass
2. The actual dessert
3. Ez (easy)
1. GAH DAM LOOK AT THAT'S GUY'S/GIRL'S CAKE HE/SHE GOT THE WHOLE BAKERY IN THERE
2.- Mom can we eat cake for dinner?
- no stupid you'll get diabetes
3. Man that exam was cake (he still got an F)