Flushable means it can travel down a clean pipe. Once it encounters an obstacle it will snag and sit there until it breaks down or catches more debris. If it catches fat particles then it will never break down and will create what is called a fatberg which will restrict flow.
New products come out everyday. To test them, you could try putting the wipes in a jar filled with water and toilet paper. See what survives when you shake it up. Maybe add a bit of oil as well to see if that changes the result.
I know someone who's home flooded with poop water because of them doing exactly that. The plumber pulled a LOT of them out of the blockage. Apparently it's a common mistake, although that doesn't make the repairs any cheaper.
It's most likely a lie. There's no industry standard, manufacturers can say what they want and their wipes end up blocking your plumbing or the sewer system, or decorating beaches.
To test whether flushable wipes are truly flushable, Ryerson University gathered 101 products, including 23 wipes that were labeled as flushable. They conducted a series of tests to determine whether any of these products would actually fall apart or disperse safely through the sewer system and found that not a single flushable wipe product passed the tests.
I just wet the TP in the sink. Highly recommended. You're not going to clog up your septic system that way. Even flushable wipes aren't really flushable.
Unfortunately you don't have the option to use the sink like that if your stall is separated from the sink or farther than an arm's reach away.