Answer:
We applaud if you perform well.
I am a little piece of paper, yet sometimes hold lots of value. I am all you need to get into big events, but will cost you. I am an important part of travel. And if lost, you're not coming. What am I?
Mr. Red lives in the red house. Mr. Blue lives in the blue house. Mrs. Pink lives in the pink house. Who lives in the white house?
I help you carry your books.
I shrink smaller every time I take a bath.
I am owned by Old McDonald.