Son Misinterprets CEO as 'Cheap' Executive

Our dinner-table discussion one evening focused on homework assignments, specifically our ten-year-old's lesson on acronyms. I asked him if he knew what "CEO" stood for.
He didn't, so I explained it meant "Chief Executive Officer."
"That definitely must be what Dad is," our son commented.
My husband was beaming with pride but felt the need to be truthful.
"No, I'm not a chief executive officer."
Our son replied, "Oh, I thought mom said 'Cheap' Executive Officer."