Can an iPhone still be classed as water damaged if it still works perfectly fine?

Can an iPhone still be classed as water damaged if it still works perfectly fine?

Added (1). I'm going to be selling my iphone 5 to a company online that buys phones. This website classifies a "faulty" phone as being water damaged. I have dropped my phone into water twice before but after putting it in rice for a day it always came out working fine. I'm wondering if, even though the phone works fine they'll be able to tell that the phone has been water damaged? As I know that there's some sort of indicator inside the phone. Thanks.

Added (2). By "dropping it into water" i mean it has been in the toilet once for about 1 second and the other time it was in my handbag when my water bottle started leaking. Both times the screen turned green. I then proceeded to leave the phone in a bag of rice over night and after that it worked fine.

do you think the indicator would show it's been water damaged in the past?

Added (3). By "dropping it into water" i mean it has been in the toilet once for about 1 second and the other time it was in my handbag when my water bottle started leaking. Both times the screen turned green. I then proceeded to leave the phone in a bag of rice over night and after that it worked fine.

do you think the indicator would show it's been water damaged in the past?

Added (4). By "dropping it into water" i mean it has been in the toilet once for about 1 second and the other time it was in my handbag when my water bottle started leaking. Both times the screen turned green. I then proceeded to leave the phone in a bag of rice over night and after that it worked fine.

do you think the indicator would show it's been water damaged in the past?

Added (5). i have no idea why the same thing is repeated three times sorry

If there's nothing wrong with the phone, no. Hence the "damage" in water damage.