Which of the following best describes a graduated pipet?

A graduated pipet is specifically designed for measuring and transferring precise volumes of liquid, typically in smaller quantities. The term "graduated" refers to the markings or scale along the length of the pipet, which indicates the volume of liquid contained within it. This enables users to accurately draw and dispense measurements of liquid for various laboratory applications, making it essential in fields such as biochemistry and molecular biology.

Unlike the other options, which describe tools that serve different purposes, the graduated pipet is focused solely on liquid measurement. For example, a cylindrical container is not intended for measuring liquid volumes precisely and lacks graduated markings, while a balancing device is used for weighing substances rather than measuring liquids. Similarly, a heating element is intended for applying heat, and does not relate to volume measurement at all. Therefore, the description of the graduated pipet as a glass tool used for smaller volumes distinctly highlights its function and importance in the laboratory.