The pupils at Monquhitter Primary School in Turriff received the awards as a result of their enterprise to raise funds to replace the cushions in the story corner.
Last autumn the children made samples of Christmas goods. Then, armed with clipboards, they took their wares around the other classes in the school to test the potential market. They took order forms home and went on to design posters for display in the school to advertise three sales of the products.
During the sales the children made more than 600, and their headteacher, Margaret Watson, suggested entering the children for two competitions - the Skene Young Entrepreneurs Award, given by Aberdeenshire businessman Charles Skene, and an Enterprise Showcase competition for schools organised by Careers Scotland.
The children went on to scoop both the Young Entrepreneurs Award and the schools Enterprise Showcase award, worth an extra 200 each.
The children now have a variety of bright, colourful cushions in their story corner, and their reading is benefiting into the bargain.
Their teacher, Caroline Barron, said, 'At choosing time they will choose, above everything else, to take a book on a cushion. They read more now.'
Ms Baron added, 'They now know the principles of market research, production, team work, sequencing tasks, advertising, selling, and the rewards for hard work.'