Credit for Calculus is accepted. So is Econ and both are accepted for the business school. It is recommended not to use both because accounting will be your only grade looked at for your business application.
https://business.wfu.edu/undergraduate-programs/undergraduate-admissions/
The above shows all the requirements for application to the undergrad business program. It confirms the fact that AP courses can be used to fulfill the requirements for Economics (ECN) 150 and Math & Statistics (MST) 111.
Accounting is the classic weed out class for B school admissions so placing out of Econ and Calc is risky. Also, your child will likely find the Wake classes to be more rigorous than their HS (including AP) versions so getting accustomed to that (in a quant environment) prior to taking accounting isn’t a bad idea.