Correct.
3 seconds sound clip from the Billy Madison movie soundboard.
You can hear this line at 00:29:49 in the Blu-ray version of the movie.
Quote context
[...]
- And now we have just two students left.
- Correct!
- Bath. That's a little easy. Why don't you just give her the trophy?
- Cheese. C-H-E-E-S-E. Cheese.
- Correct.
- Couch.
- C-O-W...
- No!
- No, I'm sorry. That's not right.
(BILLY MADISON LAUGHS MOCKINGLY)
- Well, Billy, if you spell this correctly, you pass second grade.
- Couch.
[...]