Answer
The graph of $f(x)/g(x)$ can still have a horizontal or oblique asymptote, just not the vertical one.
Work Step by Step
The graph of $f(x)/g(x)$ cannot give out any vertical asymptote if $g(x)$ is never $0$, but it is still possible that the graph has other types of asymptote (horizontal asymptote for example).
- The graph of $f(x)/g(x)$ does not have vertical asymptote if $g(x)$ is never $0$, because only by having values of $x=a$ that makes $g(x)=0$ could we have as $x\to a$, $g(x)\to0$, making $f(x)/g(x)$ approach $\pm\infty$, and the graph having a vertical asymptote.
- However, other types of asymptote are still possible. I would give a function of this type that has a horizontal asymptote: $$\frac{f(x)}{g(x)}=\frac{x^2}{x^2+1}$$
Here because $x^2\gt0$ for all $x$, $x^2+1$ is never $0$.
$$\lim_{x\to\pm\infty}\frac{f(x)}{g(x)}=\lim_{x\to\pm\infty}\frac{x^2}{x^2+1}$$
Divide both numerator and denominator by $x^2$: $$\lim_{x\to\pm\infty}\frac{f(x)}{g(x)}=\lim_{x\to\pm\infty}\frac{1}{1+\frac{1}{x^2}}=\frac{1}{1+0}=1$$
So $y=1$ is the horizontal asymptote of $f(x)/g(x)$.
In fact, if the highest degree of $x$ of $f(x)$ is smaller or equal to that of $g(x)$, we would always have the horizontal asymptote of $f(x)/g(x)$.
