I like to make the slaw first and chill it while prepping the other ingredients. You can make the slaw early in the day and chill it, or make it just before you eat. Cabbage doesn't wilt easily so it will hold up well if you make it early.
In a medium-sized bowl combine shredded cabbage and shredded carrots.
In a separate small bowl, combine mayo, sugar, vinegar, salt, and lime juice. Whisk well to remove all clumps.
Once well-mixed, pour over cabbage and carrot mixture. Mix well until well coated. Cover and chill until ready to serve.