Try to go along this line:
There are rules that exist for everyone. I have to go to work. You have to go to school. I tell you about the rules because I know them; I don't just make them up to bother you. Sometime, I will simplify a rule or regroup a few "grownup rules" for you. Because there are other, more complicated, rules that I can't directly explain to you.
Don't forget that sometimes you will be the bad guy.
Yes, you yanked her arm and it hurt and it's not fun and she really wanted to chase her ball. But she didn't rush into the street under a speeding car.
Your kid is not your friend. You have responsibility for her health, for her education and for her overall well being. It would not be a normal relationship with a friend. It can change later, but she is 5.
Society has rules that individual people could do without, but are needed for the society to function. You have to teach those rules, written or not, to your daughter. You probably do this out of love as much as out of responsibility, so that one day, she might do the same down the line.
Going to school is not a choice; it's a rule. And, at 5, she has to learn to follow the rules, before getting to the point where she can judge, overcome or break them.