No. Fat soluble is the same as oil soluble. You cannot have a substance that can be diluted by both oil and water.
It is a substance that may cease to be a solid by dissolving into it's solvent. Polar substances dissolve in water; most organic substances may be dissolved in water; while inorganic substances may...
Examples of soluble substances are sugar, salt, and ink powder.
A soluble substance is a substance that can dissolve in another substance.
Any substance that can be dissolved in water.