Preheat oven to 350°F In large mixing bowl, combine cake mix, pudding mix, Borden egg nog, and oil; beat at low speed of electric mixer until moistened. Add eggs and nutmeg; beat at medium-high speed 4 minutes.
Pour into greased and floured 10-inch fluted or tube pan.
Bake 40-45 minutes or until a wooden pick inserted near the center comes out clean.
Cool 10 minutes; remove form pan. Cool completely. Sprinkle with powdered sugar, if desired.